Barnes & Noble Education (NYSE: BNED) reported Q2 EPS of $1.25, versus $0.00 reported last year. Revenue for the quarter came in at $814.8 million versus the consensus estimate of $842.45 million.

“During the first half of fiscal 2019, BNED accomplished significant milestones in its continued development of the digital services and offerings the industry is demanding. While we are pleased with the improvement in consolidated net income, our focus is on investing in digital growth platforms and offerings for the future while also taking steps to preserve current levels of profitability and cash flow,” said Michael P. Huseby, Chairman & Chief Executive Officer, Barnes & Noble Education. “At BNC, sales were impacted by lower comparable stores sales and the impact of previously announced store closings. At MBS, wholesale sales were impacted by lower publisher rental penetration than anticipated, as well as lower net sales of traditional wholesale textbooks. We are taking steps to improve our sales execution and more aggressively manage expense and capital spending during this transformation to digital platforms and offerings. BNED’s financial position remains strong and we continue to realize our vision of becoming a premier provider of both physical and digital educational services.”

GUIDANCE:

Barnes & Noble Education sees FY2019 revenue of $2.2-2.3 billion, versus the consensus of $2.11 billion.

For earnings history and earnings-related data on Barnes & Noble Education (BNED) click here.