Houghton Mifflin: 3Q Earnings Snapshot
BOSTON (AP) _ Houghton Mifflin Harcourt Co. (HMHC) on Thursday reported third-quarter net income of $86.3 million.
On a per-share basis, the Boston-based company said it had profit of 70 cents. Earnings, adjusted to account for discontinued operations, came to 68 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.
The book publisher posted revenue of $516.3 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $529.7 million.
Houghton Mifflin shares have declined 26 percent since the beginning of the year. The stock has decreased 28 percent in the last 12 months.