Barnes & Noble has released its financial results for both the final quarter and full financial year of 2012. It's a picture of a company that's holding steady in the face of continued onslaught from its rivals, albeit with some hope on the horizon. In preparation for its as-yet-unnamed venture with Microsoft, the company has begun the process of spinning off its Nook and College businesses -- while sales from stores and BN.com now come under the umbrella term of "retail."
On that front, it sold $1.1 billion worth of books in the quarter and $4.85 billion for the year -- down from $4.92 billion in 2011. Nook-wise, the company had turnover of $933 million, with device sales increasing 1 percent for the quarter and 45 percent of the year -- but had to eat a loss on taking back unsold Simple Touch readers. Content sales on its various devices increased 65 percent in the quarter and 119 percent in the year -- clearly showing where the market is headed.
Continue reading Barnes & Noble's Q4 and FY 2012: revenue up, losses up, hopes Microsoft hurries up
Barnes & Noble's Q4 and FY 2012: revenue up, losses up, hopes Microsoft hurries up originally appeared on Engadget on Tue, 19 Jun 2012 11:18:00 EDT. Please see our terms for use of feeds.
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