Barnes & Noble Shares Take Big Hit on Q4 Earnings Miss
Barnes & Noble (NYSE:BKS) stock took a hit on Thursday following the release of its fiscal fourth quarter 2018 earnings report.
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During its fiscal fourth quarter of the year, Barnes & Noble reported losses per share of 29 cents. This is a wider loss than the 19 cents per share that was reported in the same period of the year prior. It was also a blow to BKS stock by coming in below Wall Street’s losses per share estimate of 20 cents for the quarter.
Net loss reported by Barnes & Noble for its fiscal fourth quarter of 2018 came in at $21.1 million. This is worse than its net loss of $13.4 million that was reported in its fiscal fourth quarter of 2017.
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Barnes & Noble’s operating loss for its fiscal fourth quarter of the year was $25.54 million. The book retailer’s operating loss from the same time last year was $23.83 million.
Barnes & Noble also reported revenue of $786.08 million for its fiscal fourth quarter of 2018. This is a drop from the company’s revenue of $821.22 million that was reported in its fiscal fourth quarter of the previous year. However, it did still beat out analysts’ revenue estimate of $774.71 million for the quarter, but wasn’t enough to save BKS stock today.
Barnes & Noble doesn’t provide much in the way of an outlook for its fiscal 2019 year. The company only says that it is expecting consolidated EBITDA for the year to range from $175 million to $200 million.
BKS stock was down 5% as of Thursday morning and is down 6% year-to-date.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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