S&S sees 11% rise in first quarter

Simon & Schuster saw worldwide revenue growth of 11% in the first quarter of 2017, up to $161m (from $145m for the same prior-year period), parent company CBS has reported.

CBS said the increase was led by growth in print book sales and digital audio sales, with bestselling titles including Tony Robbins' Unshakeable and Fredrik Backman's A Man Called Ove.

"Higher production and selling costs" offset the revenue growth, the company said. Operating income was up 8%, at $14m for the quarter ($13m for the same prior-year period).

Overall, CBS saw revenues of $3.34bn for the quarter, with an operating income of $704m.