Coinstar Plummets After Q2 Results

Coinstar CSTR released its fiscal second-quarter earnings results after the closing bell on Thursday. The company reported net income of $36.9 million or $1.11 per share, compared to $26.7 million or $0.83 per share, in the year ago period. On an adjusted basis, Coinstar reported EPS of $1.25, compared to $0.99 in last year's corresponding quarter. This came in ahead of analysts' consensus EPS estimates of $1.17. Revenues in the quarter were up 22 percent to $532 million from $435 million last year. This missed analysts' estimates of $545.03 million. Looking ahead to the third-quarter, the company sees earnings per share of $1.09 to $1.24 on revenues of $550 million to $575 million. This compares to current analysts' consensus for Q3 of $1.05 on revenues of $565.97 million. For the full-year, Coinstar now sees adjusted earnings from continuing operations of $4.60 to $4.90 per share on revenues of $2.210 billion to $2.310 billion. This compares to previous full-year EPS guidance of $4.40 to $4.80 on revenues of $2.155 billion to $2.280 billion. Currently, analysts have consensus EPS estimates of $4.74 on revenues of $2.28 billion for the full-year. In Thursday's after hours trading session, CSTR shares were trading down 11% to $52.70.