News Corp. reported fiscal fourth quarter 2017 earnings on Thursday afternoon, with HarperCollins recording sales of $407 million, down $26 million from a year ago (-6%). Of the decline, $19 million was simply because the same quarter a year ago comprised an extra week, and the company said negative foreign exchange cost another $8 million. They also cited “lower sales at the children’s division, which had bigger title releases in the prior year.” EBITDA for the quarter fell as well, at $39 million, compared to $50 million a year ago. In addition to the sales factors, the company said profits […]
