Investing
Coinstar Earnings Worth More Than Competing Against Netflix (CSTR, NFLX, VZ)
Published:
Coinstar, Inc. (NASDAQ: CSTR) may have announced a move against Netflix, Inc. (NASDAQ: NFLX) today with the planned second-half launch of a streaming content joint venture with Verizon Communications Inc. (NYSE: VZ). Its earnings report is worth far more for investors than the news this morning. Shares closed up 1.8% at $50.56 and now shares are up another 13% at $57.00 in the after-hours session.
Sales rose to $520.5 million and earnings hot $1.00 per share (unsure if items included). The consensus targets were $0.64 EPS and $498.05 million according to Thomson Reuters data.
Coinstar sees guidance of $0.76 EPS to $0.91 EPS on $530 million to $555 million in sales. Thomson Reuters has estimates of $0.86 EPS and $514.54 million.
Beating earnings estimates and raising guidance is usually a very welcoming sign for investors.
For 2012, the guidance is $3.80 EPS to $4.30 EPS on $2.07 billion to $2.25 billion in sales. Thomson Reuters has estimates of $3.86 EPS and $2.17 billion in sales.
As a reminder, Coinstar is profitable while many are not expecting Netflix to remain profitable.
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