Blockbuster Reports Fourth-Quarter Profit
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From Bloomberg News
Blockbuster Inc., the largest video rental chain, had a fourth-quarter profit of $30.7 million and forecast net income of at least $1.25 a share this year.
Net income was 17 cents a share, contrasted with a net loss of $4.5 million, or 3 cents, a year earlier. Revenue rose 17% to $1.58 billion, the Dallas-based company said. Blockbuster predicted that 2003 per-share earnings would rise at least 20%.
Shares of Blockbuster rose $1.35 to $14.50 on the NYSE.
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