Business

Barnes & Noble reports net income for 2Q

The bookseller has been investing heavily in its e-books to fend off its rivals.
Elise Amendola/Associated Press
The bookseller has been investing heavily in its e-books to fend off its rivals.

NEW YORK — Barnes & Noble turned a profit in 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 has been fighting tough competition from online retailers and discount stores by investing heavily in Nook.

Sales from that division rose 6 percent to $160 million. Digital content sales rose 38 percent. Barnes & Noble introduced two new Nook e-readers during the quarter; shipments began just after the quarter closed.

Advertisement

Net income was $2.2 million. That translates to a loss of 4 cents per share, however, after the impact of preferred stock dividends. 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.

Get Talking Points in your inbox:
An afternoon recap of the day’s most important business news, delivered weekdays.
Thank you for signing up! Sign up for more newsletters here

Analysts expected revenue of $1.91 billion.

Barnes & Noble’s shares slipped 11.2 percent to close at $14.26.