HC sees quarterly global revenue drop

HC sees quarterly global revenue drop

Global revenue at HarperCollins has fallen 11% year on year in the latest quarter, to $358m ($402m in same period 2015).

News Corp, HarperCollins’ parent company, has filed its results for the quarter to March 31st, revealing also that EBITDA at its book publishing division decreased by 36% to $36m ($56m in 2015) over the period.

News Corp said lower revenues from Chris Kyle's American Sniper and the Divergent series, lower e-book sales and a $6m negative impact in foreign currency changes were factors in the sales drop at the company.

Digital sales represented 21% of consumer revenue in the quarter.

For the nine months to 31st March, revenue showed a 5% year-on-year drop to $1,213m ($1,277m in comparative period the previous year), with EBITDA down 28% to $135m (from $188m).