Revenues at HarperCollins decreased 7% to $328 million in the first quarter of its fiscal year — the first as part of the new News Corp, the newspaper and book publishing operations spun off from the larger News Corp earlier this year. At the same time, profits increased by 8% to $43 million.
Ebook sales drove the profit growth at HarperCollins. Ebook sales were up 30% in the quarter versus the same period a year ago and represented 22% of overall book publishing revenues, up from 15% a year ago.
Overall, revenues were down 3% at News Corp to $2.07 billion, versus $2.133 billion in the first quarter a year ago.
Learn more about how ebooks are shaping the publishing industry at Digital Book World 2014.