Summary Box: Coinstar's 4Q earnings soar

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The Associated Press 6:31 PM Monday, February 6, 2012

THE NUMBERS: Coinstar's fourth-quarter earnings nearly tripled. The performance announced Monday was far better than analysts projected, driving up Coinstar's stock in extended trading.

THE REASON: Its Redbox kiosks for renting DVDs picked up customers who stopped getting their discs through a rival service from Netflix Inc., which has been de-emphasizing its DVD-by-mail rental service to concentrate on expanding its Internet video library.

RELATED NEWS: Earlier, Coinstar announced a partnership with Verizon Communications Inc. to challenge Netflix in another home entertainment format — streaming video to TVs and other devices with high-speed Internet connections.

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February 06, 2012 11:25 PM EST

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