Filed under: Earnings reports, General Electric (GE), Netflix, Inc. (NFLX), Blockbuster Inc 'A' (BBI), Comcast Cl'A' (CMCSA), News Corp'B' (NWS)
Video chain Blockbuster (NYSE: BBI) reported earnings earlier this week for the fourth quarter. While there were some positive aspects to the story, I can tell you that the stock is not a buy at all, at least not from where I sit.
Okay, let me throw some of the good stats out at you. According to the press release, Blockbuster's same-store sales, or comps, are doing well. In Q4, domestic comps rose well over 4%. Free cash flow was positive. And earnings on an adjusted basis calculated out to $0.40 per share. That was a huge beat, since analysts were looking for $0.25 per share.
Continue reading Blockbuster annihilates estimates, but I won't buy it
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