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… title rentals in 13,000 of its kiosks, priced at $1.50 a night. Regular DVD titles are $1 a night. The company said it will offer Blu-Ray titles in all of its 23,000 locations by the fall.
Meanwhile, Coinstar this afternoon reported Q2 revenue of $342.4 million and profits from continuing operations of 39 cents a share; the Street had been expecting $381.5 million and 33 cents. Note that the company now accounts for its e-payment and money transfer businesses as discontinued operations, which I believe accounts for the gap between actual and expected revenues.
For Q3, the company sees revenue of $370 million to $390 million and profits of 46-52 cents a share; the Street has been projecting $402.7 million and 60 cents.The weak guidance is pressuring the stock in late trading.
For the full year, Coinstar sees revenue of $1.425 billion to $1.505 billion, with profits of $1.88 to $2 a share; the Street consensus has been $1.57 billion and $1.88.
CSTR in late trading is down $4.69, or 9.8%, to $43.40.
Source: SmarTrend News
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