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Why Barnes & Noble Education, Inc. (BNED) Shares Crashed 32%?

by | Mar 6, 2019

Barnes & Noble Education, Inc. (BNED)

M.Cap: $220 million

Barnes & Noble Education, Inc. (NYSE: BNED) is a leading provider of educational products and services solutions for higher education and K-12.

Reason for the stock price crash

Shares of Barnes & Noble Education declined 32% after the announcement of third quarter 2018 results – revenue declined by 8.8% to $550.3 million, GAAP net income of $0.8 million, as compared to net loss of $283.2 million in the previous year period. Moreover, for the FY 2019, it cut its revenue estimate – now it expects 2019 revenue to be in the range of $2.15 billion to $2.2 billion (previously it was between $2.2 billion and $2.3 billion).

10-Q

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