By Jim Milliot | Feb 25, 2021
Simon & Schuster ended what is likely to be its last full year as one of the Big 5 trade publishers by posting a 10.7% increase in revenue over 2019 and a 11% gain in operating income. Revenue hit $901 million last year, while earnings rose to $141 million. S&S’s results were listed as “discontinued operations” by parent company ViacomCBS, as the sale of the company to Penguin Random House undergoes a government review. ViacomCBS only said it expects the deal to be completed sometime this year.
Similar to HarperCollins, which earlier this month reported record results in the fourth quarter, S&S closed out 2020 on a strong note, with sales up 17% over the final quarter of 2019, reaching $252 million. S&S CEO Jonathan Karp pointed to a range of titles that performed well in the last quarter, led by
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