Barnes & Noble (BKS) Shares Check Out Following Unexpected Q2 Loss
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After opening down just 5.5 percent Thursday morning, shares of Barnes & Noble, Inc. (NYSE: BKS) are now down nearly 20 percent as investors are responding to an unexpected second-quarter loss.
Barnes & Noble reported a Q2 loss of 17 cents per share, 20 cents below the analyst estimate of 3 cents.
Revenue for the quarter came in at $1.89 billion, also worse than the $1.98 billion the Street was expecting.
The miss may come as a surprise to investors given recently-shrinking competition with the closing of Borders and the good demand for the retailer's e-book readers, the NOOK.
The company expects full-year EBITDA to be at the lower end of the previously issued range of $210 million to $250 million.
Notably, competitor Amazon.com (Nasdaq: AMZN) shares opened lower this morning but are now up 2.4 percent to $196.90.
Barnes & Noble reported a Q2 loss of 17 cents per share, 20 cents below the analyst estimate of 3 cents.
Revenue for the quarter came in at $1.89 billion, also worse than the $1.98 billion the Street was expecting.
The miss may come as a surprise to investors given recently-shrinking competition with the closing of Borders and the good demand for the retailer's e-book readers, the NOOK.
The company expects full-year EBITDA to be at the lower end of the previously issued range of $210 million to $250 million.
Notably, competitor Amazon.com (Nasdaq: AMZN) shares opened lower this morning but are now up 2.4 percent to $196.90.
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