HarperCollins Sees Soft Q1, Writes Off $13 Million from B&T Closure
The collapse of Baker & Taylor cost HarperCollins $13 million in the quarter ended September 30, 2025, parent company News Corp reported. The write-off of the money owed by the wholesaler was a key factor in dropping HC’s earnings in the quarter from $81 million last year to $58 million in the most recent period.
Lower first quarter sales also contributed to the drop in profits, with revenue falling 2%, to $534 million. News Corp attributed the decline to strong sales last year of J.D. Vance’s Hillbilly Elegy, which soared when Vance was named Donald Trump’s running mate. Digital sales also took a bit of a dive, falling 9% due to a 11% drop in digital audiobook sales and a 9% decline in e-book sales. The audiobook news from HC is the latest sign that growth of the format is slowing following the entry of Spotify more than a year ago, though audio sales are still ahead of where they were before Spotify entered the market.
HarperCollins Sees Soft Q1, Writes Off $13 Million from B&T Closure