Outerwall shares rise on earnings beat, buyback

MarketWatch.com - MarketPulse SAN FRANCISCO (MarketWatch) -- Outerwall Inc. s fourth-quarter earnings topped analyst estimates but revenue was a bit light and the company s outlook fell shy of the Wall Street consensus. The company also announced a $350 million buyback. Outerwall shares rose 8.4% to $69 in after-hours activity. The operator of Redbox movie kiosk and Coinstar change machines forecast core diluted earnings from continuing operations of 77 cents to 97 cents for the first quarter on revenue of $570 million to $600 million, with the yearly outlook at between $5.16 and $5.76 a share on revenue of $2.36 billion and $2.5 billion. Analysts surveyed by FactSet are looking for $1.30 a share on revenue of $607.5 million for the first quarter, and $5.87 a share on revenue of $2.46 billion. For the fourth quarter, Outerwall reported core earnings of $1.68 a share on revenue of $593.7 million. Analysts had forecast $1.25 a share on revenue of $597.1 million.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.