June 25 (Reuters) - Bookseller Barnes & Noble Inc reported a smaller quarterly loss and said it would separate its retail and Nook Media businesses, sending its shares up about 9 percent.
The company’s net loss narrowed to $36.7 million, or 72 cents per share, in the fourth quarter ended May 3, from $114.8 million, or $2.04 per share, a year earlier.
Revenue rose 3 percent to $1.32 billion.
Nook Media, formed in 2012, consists of the company’s devices, digital content and college bookstore businesses.
Microsoft Corp owns about 17 percent of Nook Media while Pearson Plc owns 5 percent. (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Don Sebastian)