Barnes & Noble’s Nook unit didn’t have its greatest quarter. The $160 million in revenue the new Microsoft-backed spin off raked in was slightly better than last year’s $152 million, but still a significant drop from $220 million. In a sign of the growing ubiquity of e-readers however, digital content sales were up 38 percent while the units overall revenue was up just 6 percent. Of course the Nook is still losing money, having cut $51 million from the company’s bottom line. If you step outside of the digital realm things are looking slightly better for the book purveyor, as profits were up to $65 million — a 15.6 percent increase over the same time period last year. As we enter the holiday season things should start to look up for B&N and there were good signs during the four day shop-stravaganza from Black Friday to Cyber Monday as sales of Nook hardware doubled from last year. For all the fun financial details hit up the source.
Continue reading Barnes & Noble reports Q2 2013 earnings: digital content sales up 38%, Nook unit rakes $160 million
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Via: TechCrunch
Source: Barnes & Noble