HarperCollins' third quarter sales up 6%

HarperCollins' third quarter sales up 6%

HarperCollins' global sales and earnings rose in the third quarter, with revenue for the period up 6% to $398m and EBITDA up 16% to $43m. Its parent company News Corp attributed the gains to higher sales in general and Christian publishing and to the impact of foreign currency fluctuations. Digital sales also climbed 5%. 

HarperCollins UK results were not broken out.

Star frontlist titles singled out were The Woman in the Window by A J Finn and The Rock, the Road, and the Rabbi by Kathie Lee Gifford, while backlist titles such as The Subtle Art of Not Giving a F*ck by Mark Manson also showed "continued strength" according to News Corp. Foreign currency fluctuations meanwhile had a $10m positive impact. 

Driven by growth in downloadable audiobook sales, digital sales increased 5% compared to the prior year and represented 22% of Consumer revenues.

For the year to date - the nine months ended 31st March - sales were up 3% to $1,268m and EBITDA was up 8% to $173m in comparison to the same period last year.

Commenting on the results, the chief executive of News Corp, Robert Thomson, said the book publishing segment had led strong revenue growth with an "outstanding performance". 

Overall News Corp reported fiscal 2018 third quarter total revenues of $2.10bn, a 6% increase compared to $1.98bn the year before, and third quarter total segment EBITDA of $182, a 15% decline compared to $215m the prior year.