S&S sees 12% revenue increase in fourth quarter
Simon & Schuster has recorded global sales of US$830 million (A$1.05 billion) in 2017, up eight percent from the previous year, report Publishers Weekly.
Parent company CBS Corporation released the publisher’s fourth quarter and full-year results on 15 February. Sales were up 12% to $235 million (A$296.9 million) in the fourth quarter, and operating income also rose 22% year-on-year to US$44 million (A$55.5 million). Earnings in 2017 increased 11%, to US$132 million (A$167 million).
S&S CEO Carolyn Reidy said that all four of the publisher’s major operating groups reported sales gains over 2016, led by higher print book sales and digital audio sales. Overall, digital sales increased 3.6%, with digital audio sales offsetting declining ebook sales. Reidy also said that for the full year ‘every single division was up’, with the children’s division ‘up significantly’.
Fourth-quarter bestsellers for the publisher were Leonardo da Vinci by Walter Isaacson, Principles by Ray Dalio and It by Stephen King.
Tags: Simon & Schuster
Category: International news