Fiscal 2021 First Quarter Key Financial Highlights: *Revenues were $2.12 billion, a 10% decline compared to $2.34 billion in the prior year, primarily driven by the sale of News America Marketing *Net income of $47 million compared to a net loss of $(211) million in the prior year, which included non-cash impairment charges of $273 million *Total Segment EBITDA was $268 million compared to $221 million in the prior year *Reported EPS were $0.06 compared to $(0.39) in the prior year – Adjusted EPS were $0.08 compared to $0.04 in the prior year *Segment EBITDA at Digital Real Estate Services grew 45%, with record revenue and profit contribution by Move, operator of realtor.com®, led by its referral model *Segment EBITDA at Dow Jones grew 47%, driven by record average consumer product subscriptions of 3.88 million, led by 29% growth in digital-only subscriptions *Book Publishing saw 13% and 45% growth in revenues and Segment EBITDA, respectively, benefiting from continued strong performance in digital sales
In early spring, when the Covid-19 pandemic forced most bookstores to close and disrupted print book sales through Amazon, no one could have predicted that by summer unit sales of print books would be up 1.4% for the year to date over the same period in 2019, nor that sales would hit a weekly high for the year. But that is what happened in the week ended June 20, when unit sales from outlets that report to NPD BookScan topped 15 million—22.9% higher than the similar week last year—and total units sold for the year hit 295.7 million, up from 291.6 million in the first 24 weeks of 2019.
The increase came from a combination of continued strong sales of books on racism and social justice, as well as from Father’s Day books. Sales also benefitted from the slow reopening of more bookstores and continued solid online orders. The two top sellers in the week were How to Be an Antiracist by Ibram X. Kendi and White Fragility by Robin DiAngelo, which sold about 138,000 and 107,000 copies, respectively. Since the killing of George Floyd by the Minneapolis police on May 25, sales of books about race relations have soared. White Fragility, published by Beacon Press in June 2018, has sold 271,532 print copies so far this year, including 192,325 copies since the week ended May 23. It’s the 14th-bestselling print title of the year through June 20, according to BookScan.
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