Moomoo 24/7 ·  Dec 7, 2023 11:11

By Jerry Kronenberg | Moomoo News

$Barnes & Noble Education (BNED.US)$ soared more than 40% intraday Thursday after the bookseller reported well-received fiscal Q2 results.

BNED rose as much as 40.9% to a $1.48 intraday high after the company said fiscal Q2 non-GAAP earnings rose 19.2% year over year to hit $29.1 million.  On a GAAP basis, earnings gained 9.2% to $24.2 million.

The company added that’s fiscal Q2 sales gained 0.3% year on year to reach $610.4 million.

"Our second-quarter results demonstrate that the execution of our transformation initiatives is working," CEO Michael Huseby said in releasing the numbers.

However, management reiterated that BNED’s board is continuing to review “a broad range of strategic alternatives available to the company, including but not limited to potential capital raises, asset divestitures, a sale of the business and pursuit of standalone growth plans.”

Barnes & Noble Education operates campus bookstores at colleges and secondary schools, and also wholesales textbooks.

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