HC Sales, Earnings Up in Q2

in EBITDA (earnings before interest, taxes, depreciation, and amortization) in the quarter ended December 31, 2018, over the comparable period a year ago. Profit in the most recent quarter (the second period of fiscal 2019) was $88 million, up from $78 million a year ago. Revenue in the quarter increased 6% over 2018, to $496 million.

In a statement, Robert Thomson, CEO of HC parent company News Corp, said the publisher’s gains were due in part to “the burgeoning of [sales] of digital audio.” Sales of digital audio jumped 58% over last year’s second quarter, and News Corp reported that digital sales rose 12% in the period, as softness in e-book sales was offset by the gains in audio. Digital sales represented 17% of consumer revenue in the quarter, up from 16% a year ago.

Looking at its segments and titles, News Corp reported that sales were up in the general books group as well as in its Christian publishing division. Among the company’s top sellers were Homebody by Joanna Gaines and The Next Person You Meet in Heaven by Mitch Albom, as well as the continued success of Girl Wash Your Face by Rachel Hollis.

For the first six months of fiscal 2019, HC’s EBITDA was up 24% over the first half of fiscal 2018, to $156 million. Sales rose 5%, to $914 million.
more at source: https://www.publishersweekly.com/pw/by-topic/industry-news/financial-reporting/article/79216-hc-sales-earning-up-in-q2-news-ceo-takes-swipe-at-audible.html?utm_source=Publishers+Weekly&utm_campaign=84d9b6d5f9-EMAIL_CAMPAIGN_2019_02_08_03_42&utm_medium=email&utm_term=0_0bb2959cbb-84d9b6d5f9-304472333

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