Publisher looking to Obamas for next smash hit

Despite selling 4 million copies of R.J. Palacio’s “Wonder” and 10 million copies of Dr. Seuss titles in 2017, Penguin Random House revenue was flat at $4.1 billion and earnings were down 3 percent to $640.7 million, the privately held company revealed in its annual earnings released late last week, our Keith J. Kelly reports.

In contrast, the German-based parent company Bertelsmann reported revenues were up 1.4 percent, to $21.5 billion, while its profit hit a record high of $1.48 billion.

Bertelsmann is betting big on its US arm for 2018. Last year, it had upped its stake in Penguin Random House to 75 percent, buying another 22 percent stake from partner Pearson.