McGraw-Hill Education losses widens as seasonality impacts revenue

McGraw-Hill Education losses widens as seasonality impacts revenue

McGraw-Hill Education said its losses for the third quarter of the year 2018 rose to $171 million.

The result shows a further deterioration of its bottom line when compared to $161 million reported in the year before.

McGraw-Hill Education noted in the report that Our revenues, operating profit and operating cash flows are affected by the inherent seasonality of the academic calendar, which varies by country.

Changes in our customers’ ordering patterns may impact the comparison of our results in a quarter with the same quarter of the previous year, or in a fiscal year with the prior fiscal year, where our customers may shift the timing of material orders for any number of reasons, including, but not limited to, changes in academic semester start dates or changes to their inventory management practices.