Coinstar Inc., owner of the Redbox movie-rental kiosks, said first quarter sales and profit exceeded its previous forecast, after the company raised prices.
Profit from continuing operations will be $1.62 to $1.66 a share, on sales of $567 million to $569.2 million, said the Bellevue, Washington-based company. Analysts were expecting profit of 89 cents a share on revenue of $538.6 million.
The company said it benefited from lower-than-expected card-processing fees and the popularity of titles including “Moneyball,” “Puss and Boots” and “50/50” during awards season.
Coinstar’s stock price jumped more than 14 percent to $69.98 in after-hours trading.
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