News Corp. reported fiscal second quarter earnings on Thursday for the period ended December 31, with sales at Harper Collins of $531 million, a 14 percent decline from $617 million in 2021, attributed to lower book sales “due to slowing consumer demand industry-wide, difficult frontlist comparisons and some logistical constraints at Amazon.” The strong dollar accounted for $22 million of the decline. The “softness” in sales was “notably in North America.” EBITDA was $51 million, down 52 percent from $107 million last year, due to those same lower sales trends, as well as “ongoing supply chain, inventory and inflationary pressures […]
