Barnes & Noble Posts Huge Losses, Will Stop Making Own Tablets
Will continue with own e-readers
Barnes & Noble Inc. (BKS) sank the most in 17 months after posting a loss that was twice as wide as analysts estimated and said it would stop making tablets as the digital unit's sales plummet.
The shares declined 20 percent to $15.03 at 1:23 p.m. in New York and earlier slid as much as 21 percent for the largest intraday drop since Jan. 5, 2012. The stock had added 25 percent this year through yesterday, compared with a 10 percent gain for the Standard & Poor's 500 Index.
Hide Comments (0)
Editor's Note: As of February 29, 2024, commenting privileges on reason.com posts are limited to Reason Plus subscribers. Past commenters are grandfathered in for a temporary period. Subscribe here to preserve your ability to comment. Your Reason Plus subscription also gives you an ad-free version of reason.com, along with full access to the digital edition and archives of Reason magazine. We request that comments be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of reason.com or Reason Foundation. We reserve the right to delete any comment and ban commenters for any reason at any time. Comments may only be edited within 5 minutes of posting. Report abuses.
Please
to post commentsMute this user?
Ban this user?
Un-ban this user?
Nuke this user?
Un-nuke this user?
Flag this comment?
Un-flag this comment?