With Nook, bookseller sees a new chapter

MARKET MOVERS

August 31, 2011
  • Revenue for Barnes & Nobles Nook digital book business was $880 million in fiscal 2011 and is forecast to double this year. And this month, Liberty Media invested $204 million in the company.
Revenue for Barnes & Nobles Nook digital book business was $880 million… (Miranda Grubbs/Avalanche…)

Barnes & Noble Inc., the largest US bookstore chain, rose the most in more than three months after posting a smaller quarterly loss and projecting revenue for its Nook e-reader to more than double this year. The net loss narrowed to $56.6 million, or 99 cents a share. Barnes & Noble has sacrificed profits to invest in transitioning into a digital-content provider through its Nook e-readers.

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