Sales gained at HarperCollins for the fifth consecutive quarter, rising $17 million to $418 in their fiscal first quarter. “Robust profit growth” saw EBITDA rise to $68 million in the period, up $20 million for a year ago. Sales gains would have been higher, but were “partially offset by $12 million of lower revenues as a result of the adoption of the new revenue recognition standard.” We explained that standard earlier in the year, in the context of how it lifts Penguin Random House’s ebook sales, but it applies broadly to “revenues from contracts with customers.” A HarperCollins spokesperson confirms […]
