Profitable quarter for Blockbuster
Written on May 18, 2008
The movie rental chain Blockbuster says it swung to a first-quarter profit on lower expenses and improved results from its subscription service and domestic sales growth.
The Dallas-based company reported Thursday its earnings after preferred dividends was $42.6 million, or 20 cents per share. That compared with a loss of $51.8 million, or 27 cents per share, a year earlier.
Blockbuster Inc (BBI, Fortune 500). says revenue slipped 5 percent to $1.39 billion from $1.47 billion after closing or selling 412 stores payday advance low fees first cash advance.
Analysts polled by Thomson Financial forecast net income of 15 cents per share on sales of $1.44 billion.
Blockbuster wants to buy electronics chain Circuit City Stores.
Filed in: marketing.