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Harper Sales Fell 14%; Offset By Lower Employee Costs

February 10, 2023
By Katy Hershberger

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 […]

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Filed Under: Earnings Reports, Publishers

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