News Corp. reported fiscal first quarter sales on Thursday afternoon, with a soft quarter at HarperCollins. Sales of $405 million were down $13 million, or 3 percent, with foreign exchange costing $5 million in the period. EBITDA fell much further, down to $49 million, from $68 million a year ago (which had been a time of unusually “robust profit growth”), blamed on “the different mix of titles.” Digital sales fell 5 percent in the period, comprising 22 percent of “consumer revenues” (which were $387 million). The results were worse for parent company News Corp., where sales fell 7 percent to $2.34 […]
