The Barnes & Noble Nook business lost $57 million (EBITDA) in the first quarter of 2013 on revenues of $192 million, according to the company’s earnings report released today.
Although revenues increased for the device and e-bookstore business — especially on the digital content side, which saw a 46% increase in sales — losses continue to mount. Revenues were up $1 million overall for the quarter while losses increased by $6 million, due to device price decreases and continued investment in the business, the company said in a statement.
The business as a whole, including the retail and college bookstore segments, grew 2.5% to $1.45 billion and turned a first quarter 2012 loss of $24 million (EBITDA) into a profit of $4 million — although the company still lost money overall in the quarter, $41 million.
Yesterday, Barnes & Noble announced that it would be bringing its Nook business to the UK. Analysts wondered whether the move would pay off given that Barnes & Noble hasn’t yet announced a bricks-and-mortar retail partner in the country to sell its devices.