News Corp reported earnings for their fiscal third quarter ended March 31, with sales at Harper Collins of $506 million, down 2 percent from the record high $515 million in the same quarter last year. The decline was due to lower physical book sales, which were partially offset by higher digital sales and lower returns. Earnings improved 2 percent, with EBITDA of $62 million, attributed to “lower manufacturing, freight and distribution costs driven by product mix” and the absence of last year’s high supply chain costs, but offset by slower sales and increased employee costs. (Remember, the Harper union was […]
