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.

Advertisement

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.

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.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.