Reuters: Global Markets: Coinstar ups first-quarter revenue forecast, shares jump

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Coinstar ups first-quarter revenue forecast, shares jump Apr 13th 2012, 00:39 Tweet Share this Email Print Related News General Mills profit dips as commodity costs rise Wed, Mar 21 2012 Adobe revenue slows ahead of upgrades, shares fall Mon, Mar 19 2012 Analysis & Opinion How Groupon accounts for its deals Related Topics Hot Stocks » Asian Markets » A Redbox automated DVD rental kiosk is seen in Golden, Colorado September 16, 2009. Credit: Reuters/Rick Wilking Thu Apr 12, 2012 8:39pm EDT (Reuters) - Coinstar Inc (CSTR.O) raised its first-quarter revenue outlook citing stronger-than-anticipated consumer demand at its Redbox unit, sending its shares up more than 17 percent after the bell. The company raised its revenue outlook range to $567 million to $569.2 million, from its previous forecast of $530 million to $555 million. The company also expects diluted earnings from continuing operations of $1.62 to $1.66 per share. Analysts, on an average, were expecting first-quarter revenue of $537.7 million, according to Thomson Reuters I/B/E/S. The raised outlook reflects higher sales of titles like Moneyball, Puss in Boots, 50/50, In Time, Abduction and Mr. Popper's Penguins, the company said in a statement. Coinstar also raised its full-year revenue outlook range to $2.15 billion to $2.28 billion, helped partly by the extension of its content license agreement with Universal. It had earlier forecast revenue of $2.08 billion to $2.25 billion. Shares of the company closed at $61.31 on Thursday on the Nasdaq (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Roshni Menon) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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