Barnes & Noble Education (NYSE:BNED) stock was hit hard on Tuesday following the release of its earnings report for its fiscal second quarter of 2019.
Barnes & Noble Education reported earnings per share of $1.25 for its fiscal second quarter of 2019. This is an increase over the company’s earnings per share of $1.03 from the same time last year. It also beat out Wall Street’s earnings per share estimate of $1.21 for the quarter, but couldn’t save BNED stock from falling.
Net income reported by Barnes & Noble Education for its fiscal second quarter of the year came in at $59.70 million. This is up from the company’s net income of $48.40 million reported in its fiscal second quarter of the previous year.
Barnes & Noble Education also reported operating income of $78.48 million for its fiscal second quarter of 2019. BNED reported operating income of $83.26 million during the same time last year.
The real blow to Barnes & Noble Education stock today comes from its revenue of $814.77 million. This is a drop from the company’s revenue of $886.86 million reported in its fiscal second quarter of 2018. It also wasn’t able to reach analysts’ revenue estimate of $842.45 million for the for the period.
Barnes & Noble Education also provides an outlook for its fiscal full year of 2019 in its most recent earnings report. The company is expecting revenue for the year to range from $2.20 billion to $2.30 billion. Wall Street is looking for revenue of $2.11 billion for fiscal 2019.
BNED stock was down 26% as of Tuesday morning and is down 23% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
