Shares of Coinstar, Inc.(NASDAQ:CSTR) plunged as much as 9% in extended trading after the company reported lower than estimated third quarter earnings on late Thursday.
The company earned $36.8 million or $1.14 per share in the third quarter, down from a year ago profit of $37.1 million, or $1.18 per share. Revenue came in at $537.6 million, up 15.50% year over year.
Analysts were estimating EPS of $1.16 a share on revenue of $561 million for the quarter.
The company cites the Olympics as negative influence on consumer viewership during the quarter. Redbox segment revenue up 17.9% to $459.5 million. Coin segment revenue increased 2.8% to $77.6 million. Looking to Q4, the firm notes a soft quarter for titles in Q3 could affect the pace of returning customers.
For full-year 2012, expects revenue of $2.19 billion -$2.24 billion and EPS of $4.50-$4.60.