Summary:

HarperCollins and Simon & Schuster’s parent companies both reported earnings Wednesday. While News Corp shared little about HarperCollins’ performance, CBS noted that digital made up 21 percent of Simon & Schuster’s revenues for the quarter.

CBS, parent company of Simon & Schuster, and News Corp, parent company of HarperCollins, and , both released earnings Wednesday. Here’s what they had to say about the book publishers:

Simon & Schuster: Revenues were $210 million, down 5 percent from $220 million this time last year, “as strong growth in digital book sales was more than offset by lower print book sales.” Digital sales (ebooks and digital audio) made up 21 percent of total revenues for the quarter, and grew 20 percent over the same time last year — though Publishers Lunch notes “that digital growth was not as strong as in the past…In the second quarter, digital was up 44 percent compared to the prior year; in the first quarter it was up 64 percent.” S&S CEO Carolyn Reidy told Publishers Weekly “she believes that overall digital sales for the full year will end up representing in the low 20% range of S&S revenue.”  release (PDF)

HarperCollins: As usual, News Corp shared little about books. The company plans to spin off its publishing segment, including books and newspapers, from the higher-performing TV and film side, and CEO Rupert Murdoch said, “We have made considerable progress in this process and look forward to providing more details by the end of the calendar year.”

Publishing segment revenues (which includes newspapers) for the quarter ending September 30, 2012 were $57 million, down $53 million from last year “due to lower advertising revenues across all divisions, led by declines at the Australian and U.S. publishing businesses.” This was partially offset by HarperCollins’ acquisition of Christian publisher Thomas Nelson, as well as “increased contributions at the U.K. newspapers.” In a separate statement, HarperCollins said that ebooks made up 16 percent of sales worldwide (excluding Thomas Nelson titles).  release (PDF)

Photo courtesy of Shutterstock / Carlos Andre Santos

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