HarperCollins Sales Fall
Despite reports of increased earnings in nearly all of New Corp.’s properties, first quarter profits for its its book publishing unit declined.
HarperCollins reported first quarter operating income of $55 million, a decrease of $15 million versus the same period a year ago that included strong sales of several key titles. The decline occured despite having 33 books on The New York Times bestseller list, including two books that reached the No. 1 spot. However, News Corp., as a whole, saw an $843 profit.