Blockbuster (BBI) Sells Off After Lowering Guidance
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Blockbuster (NYSE: BBI) is trading down more than 20% to $0.67 in the after-hours after missing the earnings view and offering poor guidance. Blockbuster reported a Q2 loss of $0.19, 7 cents lower than the analyst estimate of ($0.12). Revenue for the quarter was $1.02 billion, versus the consensus of $1.12 billion.
BBI lowered its FY09 EBITDA guidance from $305-$325 million to $270-$290 million.
It seems that movies on demand at home and Netflix (Nasdaq: NFLX) are hurting Blockbuster more than analysts had expected in their consensus estimates.
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BBI lowered its FY09 EBITDA guidance from $305-$325 million to $270-$290 million.
It seems that movies on demand at home and Netflix (Nasdaq: NFLX) are hurting Blockbuster more than analysts had expected in their consensus estimates.
Sign up at EasyStockAlerts for free to see your stock news before it breaks to the rest of the public!
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