Nook Continues Bleeding

shutterstock_4622989Another profitable quarter in the books for Barnes & Noble and another period in which Nook lost money.

Revenue at the digital media division at the country’s largest bricks-and-mortar bookseller was down 50% and the losses were staggering at $62 million. However, losses at Nook were trimmed considerably, by about two thirds, due to cost-cutting. Over the all-important holiday period, Nook sales were down 61%.

Still, the company plans on launching a new Nook tablet in the beginning of its next fiscal year.

Despite Nook’s continued poor performance, Barnes & Noble continues to be profitable, even more this year than last. More.

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