Amazon Starts Strong
Amazon had a big first quarter, with total revenue rising 34%, to $13.18 billion. While net income fell 35%, to $130 million, earnings easily beat Wall Street expectations. Amazon gave credit to its digital offerings, saying nine of the top 10–selling products in the quarter were digital, led by the Kindle Fire, the bestselling product in the period.
Anderson Family Bids on BAM
The Anderson family has made a proposal to take the company private by acquiring all outstanding shares for $3.05 a share. The offer puts the value of BAM at about $48.8 million.
HMH Partners With B&N
As part of a Barnes & Noble program to provide e-books for grades k–12, Houghton Mifflin Harcourt will provide age-appropriate, International Reading Association–recommended digital content installed on NOOK Color and Simple Touch Readers for classrooms.