Barnes & Noble (BKS) Banks in Q1 as Key Metric Shows Massive Growth
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Barnes & Noble's (NYSE: BKS) earnings report Tuesday highlighted one key feature: eReaders are still being used, and in a big way.
With its results, Barnes & Noble said consolidated sales in its NOOK business, including sales of digital content, device hardware and related accessories, "increased 140 percent in the first quarter to $277 million."
Sales of the NOOK aren't expected to slow down either. Barnes & Noble sees NOOK revenue doubling from $800 million in fiscal 2011 to $1.8 billion in fiscal 2012. Such growth would mean the sale of all things NOOK should make up about 25 percent of Barnes & Noble's total sales, up from 20 percent last quarter.
The news is good and may be even better for rival companies like Amazon.com (Nasdaq: AMZN) and Sony (NYSE: SNE), both of which also have eReaders on the market. Amazon doesn't release numbers for it's Kindle, but the company has noted the device has been the number one selling item on Amazon before.
Barnes & Noble shares are trading 7.7 percent higher Tuesday following the results. The company reported a first-quarter loss of 94 cents per share, which was in-line with views, as revenue of $1.42 billion topped estimates.
With its results, Barnes & Noble said consolidated sales in its NOOK business, including sales of digital content, device hardware and related accessories, "increased 140 percent in the first quarter to $277 million."
Sales of the NOOK aren't expected to slow down either. Barnes & Noble sees NOOK revenue doubling from $800 million in fiscal 2011 to $1.8 billion in fiscal 2012. Such growth would mean the sale of all things NOOK should make up about 25 percent of Barnes & Noble's total sales, up from 20 percent last quarter.
The news is good and may be even better for rival companies like Amazon.com (Nasdaq: AMZN) and Sony (NYSE: SNE), both of which also have eReaders on the market. Amazon doesn't release numbers for it's Kindle, but the company has noted the device has been the number one selling item on Amazon before.
Barnes & Noble shares are trading 7.7 percent higher Tuesday following the results. The company reported a first-quarter loss of 94 cents per share, which was in-line with views, as revenue of $1.42 billion topped estimates.
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