Why Houghton Mifflin Harcourt Stock Fell Today
Shares of educational publishing house Houghton Mifflin Harcourt (NASDAQ: HMHC) crashed hard on Thursday following a mixed earnings report. The stock ended the session down 14%.
Houghton Mifflin's second-quarter sales fell 35% year over year to $252 million. Net losses decreased from $0.33 per share to $0.30 per share over the same period. The bottom-line result was in line with Wall Street's expectations, but your average analyst had been looking for a beefier revenue reading of approximately $281 million.
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Source Fool.com
