Sanoma, through its Swedish subsidiary Sanoma Education, now expects sales of 1.30–1.32 billion euros. Previously, it forecast sales of 1.29–1.34 billion euros, while analysts had expected an average of 1.33 billion euros.
Third-quarter sales rose 0.6 percent to EUR 518.9 million compared with the same quarter last year. Analysts had expected sales to rise to an average of EUR 542.1 million.
Operating profit for the quarter more than doubled to EUR 171.6 million, beating analysts' expectations of EUR 189 million.
