Barnes & Noble reports improved profits

Barnes & Noble reports improved profits

Online bookseller Barnes & Noble has reported better than expected fourth period profit. And the company also forecasted earnings for the current quarter above Wall Street estimates. All these events helped the company to improve its share prices in the stock exchange as the markets have become optimistic about the company.

The company’s net income was close to around $123 million, or $1.76 per share. This is an improvement of 6 percent compared to same period last year. The market analysts had predicted this figure to hover around $1.75 a share.

Barnes & Noble’s fourth quarter sales rose 5 percent to $1.75 billion from $1.67 billion in the year-ago period. Company’s Chief Executive Steve Riggio told analysts: “Some have said that there are slow industry growth dynamics behind the book business. The circumstances behind our performance underscore the stability of the industry.”