Barnes & Noble reports net income for 2Q
Barnes & Noble is reporting a profit for its fiscal second-quarter as higher revenue from its Nook e-book and e-bookstore division offset a decline at retail stores.
The largest traditional book retailer says net income totaled $2.2 million for the three months ended Oct. 27. That translates to a loss of 4 cents per share, however, when accounting for the impact of the dividend on redeemable preferred shares. That matched analysts' expectations.
The results compare with a prior-year loss of $6.6 million, or 17 cents per share.
Revenue was nearly flat at $1.88 billion. Analysts expected revenue of $1.91 billion.
Revenue from stores fell 3 percent to $996 million. Its college bookstores' revenue rose less than 1 percent to $773 million. Its Nook unit revenue rose nearly 6 percent to $160.3 million.