Houghton Mifflin: 2Q Earnings Snapshot
Aug. 02, 2018
BOSTON (AP) _ Houghton Mifflin Harcourt Co. (HMHC) on Thursday reported a loss of $23.3 million in its second quarter.
On a per-share basis, the Boston-based company said it had a loss of 19 cents. Losses, adjusted for severance costs, were 17 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The book publisher posted revenue of $375.6 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $384.2 million.
Houghton Mifflin shares have declined 37 percent since the beginning of the year. The stock has fallen 51 percent in the last 12 months.