Blockbuster Free Falls on Loss
(Blockbuster article updated from May 13.)
During the first-quarter, the movie rental retailer lost $65.4 million, or 33 cents a share, compared with a profit of $24.9 million, or 13 cents a share, in the year-ago period for Blockbuster.
Excluding costs, Blockbuster actually lost 14 cents a share, in-line with analysts' estimates.Revenue dropped 13.5% to $939.4 million, from $1.09 billion, while same-store sales declined 7.1%.
|Bankruptcy Is Blockbuster's Only Hope
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