News Corp. reported fiscal third quarter sales on Thursday, with book publisher HarperCollins registering their seventh straight quarterly increase in sales. Building on the strong holiday quarter, sales once again rose 6 percent to $421 million, up $23 million from a year ago. And the gain would have been larger, since the new revenue recognition standard we have been explaining for a while now reduced revenues by $17 million in the quarter. (The way the standard has been applied, it raised Penguin Random House’s reported sales by €147 million or $173 million for the full year, and so far it […]
