Barnes & Noble Loss Widens

Barnes & Noble(BKS Quote) widened its loss in the first quarter, as consumers cut back on books and music purchases and turned to digital outlets. The company, however, significantly outperformed analysts' expectations and, in response, raised its full-year outlook.

The news sent shares up 7% to $25.50 in pre-market trading.

The book seller recorded a loss of $2.7 million during the quarter, or 5 cents a share, compared with a loss of $2.2 million, or 4 cents, a year earlier. ...