Why Is Barnes & Noble Education (BNED) Stock Up 20% Today?


  • Barnes & Noble Education (BNED) stock is rising alongside its latest earnings report.
  • The company saw its earnings for the period improve.
  • It also beat revenue estimates for the quarter.
BNED Stock - Why Is Barnes & Noble Education (BNED) Stock Up 20% Today?

Source: Shutterstock

Barnes & Noble Education (NYSE:BNED) stock is climbing higher on Friday following the release of its earnings report for the fiscal third quarter of 2023.

That earnings report starts with the company’s adjusted earnings of -$11.4 million. While that’s still not a profit, it’s a massive improvement over the -$28.9 million reported in the same period of the year prior.

To go along with that, Barnes & Noble Education reported revenue of $447.1 million for the period. That’s better than the $388.16 million that analysts were expecting for the quarter. It’s also an 11% increase year-over-year.

According to Barnes & Noble Education, the positive momentum in its earnings report is due to improving conditions surrounding the Covid-19 pandemic. The company notes that results in fiscal 2022 were hampered by students not returning to college due to the omicron variant.

BNED Stock Outlook

Barnes & Noble Education also provides guidance for what investors can expect in fiscal 2023. That includes consolidated non-GAAP Adjusted EBITDA ranging from $20 million to $30 million. It also expects non-GAAP Adjusted EBITDA growth of $25 million to $35 million for the fiscal year.

Investors will note that BNED stock has already traded some 453,000 shares as of this writing. That’s above the company’s daily average trading volume of about 394,000 shares.

BNED stock is up 19.8% as of Friday morning.

There’s more stock market news worth diving into below!

We’ve got the latest stock stories traders need to know about on Friday! That includes why shares of Molecular Templates (NASDAQ:MTEM) stock is rising, the biggest pre-market stock movers this morning, and more. All of that is ready to go at the following links!

More Friday Stock Market News

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/03/why-is-barnes-noble-education-bned-stock-up-20-today/.

©2024 InvestorPlace Media, LLC