2nd Quarter Earnings Fall Sharply at HarperCollins

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By Carmen Comment

NewsCorp, the parent company of HarperCollins, has released its full earnings report for the 2nd quarter ending December 31, 2006, and the outlook for the publishing house is one of decline. HarperCollins reported second quarter operating income of $54 million, a decrease of $23 million versus the same period a year ago which included strong sales from The Chronicles of Narnia series by C.S. Lewis. The year on year decline also reflects charges in the current year due to the bankruptcy filing of Advanced Marketing Services. Better news included 39 books on The New York Times bestseller list, including four books that reached the number one spot.

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