Barnes & Noble’s NOOK Business For Q2 Hits $220 Million In Revenue
Barnes & Noble, Inc. (NYSE:BKS) had recently issued the Q2 2012 earnings report and they revealed the NOOK business revenue hit $220 million. The NOOK Tablet has become Barnes & Noble’s fastest selling device to date. However the company hit a net loss of $6.6 million this past quarter.
The NOOK Tablet launched November 7 with a price of $249. After launching the NOOK Tablet, the company dropped the price of the NOOK Color and NOOK Simple Touch e-readers to $199 and $99, respectively.
Barnes & Noble saw a drop of physical book sales, but losses were offset by strong NOOK sales and the liquidation of Borders book stores. Barnes & Nobles saw an increase by 17% from the same quarter last year, which was boosted another 10.7% during the three-day holiday weekend. Barnes & Noble reported a $6.6 million net loss, which is an improvement over the $12.6 million net loss from the year before.@amitchowdhry or on Google+ at +AmitChowdhry