Barnes & Noble Education, Inc. (NYSE: BNED), reported earnings of USD 59.7 Million for the second quarter for fiscal year 2019.
The education service company reported net income of $1.25 per share. The Company’s Earnings, adjusted for non-recurring costs, came to $1.26 per share. Revenue brought in from bookstores on college campuses came in at USD 814.8 Million in the period. Barnes & Noble Education shares suffered at the beginning of the year and dropped to about 22%. However, within the last 12 months, the stocks have seen a rise of roughly 6%.
Barnes & Noble Education attributes most of their success to there ongoing digital transformation. They are expanding into online educational help and services. They now offer study tools online that help the student with step-by-step solutions.
Barnes & Noble education is expecting full-year revenue in the range of USD 2.2 Billion to USD 2.3 Billion, for the fiscal year 2019.
“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,” Michael P. Huseby, Chairman & Chief Executive Officer, Barnes & Noble Education said, “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.”