Picture books inherently contain many parallel dimensions of information and serve as a rich source of input for children. However, studies of children's learning from picture books tend to focus on a single type of information (e.g., novel words). To better understand the learning-related potential of shared book reading, we examined 4.5- to 5.5-year-old children's simultaneous learning of novel words, moral lessons, and story details from a reading interaction with a parent. Results showed that children successfully learned new words, extracted a moral lesson, and recalled story details from the picture book. Contrary to expectations, children's learning was equally strong regardless of whether or not parents were prompted to focus on learning as the key purpose of book reading. This research demonstrates that children learn diverse information presented across different time scales from picture books.