Profits Jump at HarperCollins1 min read

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Profits jumped 32% at HarperCollins in the second quarter of fiscal 2017 over the comparable period in fiscal 2016. EBITDA (earnings before interest, taxes, depreciation, and amortization) was $75 million in the quarter ended December 31, 2016, up from $57 million a year ago. Revenue in the quarter rose 4%, to $466 million.

The revenue gain was attributed to a mix of strong frontlist sales from such titles as The Magnolia Story and Chaos as well as continued solid sales of Jesus Calling and Jesus Always (both by Sarah Young) and Hillbilly Elegy.

Led by digital audiobooks, digital sales increased 3% in the quarter and accounted for 16% of HC revenues, according to HC parent company News Corp.

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For the first half of fiscal 2017, which ends June 30, 2017, HC’s revenues were flat at $855 million compared to the first half of fiscal 2016. EBITDA was up 24%, to $123 million.

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