Coinstar Hammered After Disappointing Earnings

Filed under: Major Movement, Earnings Reports, Forecasts, Bad News, Options, Technical Analysis

It seems that 92% year-over-year earnings growth wasn’t quite enough to impress Wall Street. Shares of DVD rental kiosk operator Coinstar Inc. (CSTR) are taking a beating as traders pan the company’s softer-than-forecast second-quarter results and lackluster revenue forecast.

For the recently concluded quarter, Coinstar banked a profit of .4 million, or 41 cents per share, up from last year’s results of million, or 23 cents per share. Revenue for the quarter climbed 35% to 2.4 million. As recently as May, Coinstar predicted its quarterly revenue would arrive between 3 million and 3 million.

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Coinstar Hammered After Disappointing Earnings originally appeared on BloggingStocks on Fri, 30 Jul 2010 11:40:00 EST. Please see our terms for use of feeds.

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