Blockbuster Profit Well Below Estimates
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Blockbuster Inc. (BBI.N: Quote, Profile, Research) on Wednesday posted a quarterly profit well below analysts&#39; estimates even before $1.
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Blockbuster Inc. BBI.N on Tuesday  said it would eliminate late fees on movies and games in the  latest attempt to jump-start a rental business being hammered  by competition ranging from online companies to discount  retailer Wal-Mart.
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The movie rental company said its fourth-quarter earnings fell largely because of the cost of starting and promoting its online rental business.
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The chances of finally making a profit at the combined company still aren't looking too good.
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Sales were lower than expected, and the quality of earnings is in question.
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Online DVD rental company Netflix  Inc topped Wall Street estimates with higher fourth-quarter  profits on Wednesday, but subscriber growth fell short of some  analysts' forecasts.
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Blockbuster is said to be talking to movie download service Movielink over a possible acquisition, The Wall Street Journal reported on Thursday. The deal would be worth about $50 million in cash and stock.
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As part of a special promotion, Blockbuster has cut prices again. But will it be enough?
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No. 1 U.S. video rental chain Blockbuster Inc.  said it lowered prices for its online movie subscription plans.
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Warner Music Group Corp on Friday  posted a fourth quarter profit helped by gains from litigation  against online music service Kazaa, but sales fell due to a  weak release schedule compared with a year ago.
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Online retailer Amazon.com on  Tuesday reported operating profit margins that concerned some  analysts despite a sharp rise in quarterly earnings, and its  shares fell 9 percent.
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Video chain Blockbuster Inc on Friday said it would lower the price of its online DVD rentals to undercut a similar move by Netflix Inc. that sparked a stock a sell-off of both companies' shares.
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The commercial insurer said profit declined on lower premiums and investment income, but the results still beat Wall Street expectations.
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Blockbuster Inc., which has been losing money on online movie orders, is boosting prices of its DVD-by-mail service for new customers and some existing ones by up to 40 percent.
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The New York Times Company said yesterday that its profit for the year would fall short of what it had initially forecast, a casualty of higher costs and of advertising revenue that has
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Continued pressure from rival Netflix is obliging Blockbuster to stop charging late fees. This could remove up to $300M in revenues per year.
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Regal Entertainment Group, the country's largest owner of movie theaters, Tuesday said its profit fell 37 percent in the third quarter, as box office receipts slipped.