Coinstar Jumps Over 12% on Earnings
Proof that consumers still love a physical product, Coinstar (owner of Redbox) rocketed over twelve percent in after hours trading. The jump is attributed to a strong earnings report detailing 33% growth in revenue, a dollar of EPS in the fourth quarter, and estimated 2.2 billion in 2012 revenue. This is in conjunction with the freshly announced partnership with Verizon, marking the dvd sellers first venture into the online streaming industry. Redbox still manages to sell more DVDs than Netflix, but Netflix has the jump on the online industry. They already spend over 1.2 billion a year on streaming content.