Barnes & Noble to buy Microsoft’s stake in Nook business
Total revenue falls 2.6% to $1.69 billion in the second quarter, hurt mainly by its Nook business
Bengaluru:Bookseller Barnes & Noble Inc said it would buy Microsoft Corp’s 17% stake in its Nook business, comprising e-readers, e-books and college bookstores.
The company said its total revenue fell 2.6% to $1.69 billion in the second quarter, hurt mainly by its Nook business.
Net income fell to $12.3 million, or 12 cents per share, for the quarter ended 1 November from $13.2 million, or 15 cents per share, a year earlier.
Pearson Plc owns 5% of the Nook business. Reuters
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