Bloomsbury Publishing Holds Forecast as AI Deals Support Finance Performance
Bloomsbury Publishing's Financial Outlook and AI Impact
July 15 (Reuters) - Britain's Bloomsbury Publishing maintained its annual forecast on Wednesday, betting that continued AI licensing revenue and strength in its academic and professional business will support growth.
Key Details of Bloomsbury's Performance
Here are some details:
AI Licensing Revenue and Partnerships
• The publisher of JK Rowling's "Harry Potter" books and Sarah Maas' "A Court of Thorns and Roses" series said it had continued to benefit from AI licensing revenue in the first four months of its new fiscal year.
Google Partnership and Profit Expectations
• Bloomsbury, which struck an AI partnership with Google last September, said it expects its annual adjusted profit to be in line with analysts' average expectations of £49.9 million ($66.93 million).
Academic & Professional Division Growth
• The publisher added that its academic & professional division has achieved growth across all territories so far this year.
Additional Information
($1 = 0.7455 pounds)
(Reporting by Prerna Bedi in Bengaluru; Editing by Sherry Jacob-Phillips)
