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Barnes & Noble Education shares drop as first-quarter earnings miss expectations

The group reported a quarterly net loss of US$34.8mln, or 75 US cents per share, below consensus for a loss per share of US 55 cents.

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The firm’s sales also missed forecasts, at US$355.7mln against consensus of US$393mln

Barnes & Noble Education Inc. (NYSE:BNED) saw its share drop in pre-market trading after the academic bookseller’s first-quarter earnings missed expectations.

The group reported a quarterly net loss of US$34.8mln, or 75 US cents per share, an increase on the US$27.9mln, or 60 US cents a share posted a  year earlier, and below consensus for a loss per share of US 55 cents.

The firm’s sales also missed forecasts, at US$355.7mln against consensus of US$393mln, although that was up from US$239.2mln a year earlier.

In pre-market reading, Barnes & Noble Education shares were down 7.6% at US$6.30.

 

Quick facts: Barnes & Noble Education

Price: 3.73 USD

NYSE:BNED
Market: NYSE
Market Cap: $177.58 m
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