Outerwall Inc. shares fell after the bulk of the kiosk operator’s outlook fell below Wall Street estimates and movie rentals declined. Outerwall shares dropped 17% to $27. Outerwall reported adjusted fourth-quarter earnings of $1.43 a share on revenue of $527.2 million, while analysts surveyed by FactSet were forecasting 68 cents a share on revenue of $512.3 million. The company said that movie rentals from its Redbox kiosks fell 24.3% in the fourth-quarter from the year-ago quarter. Outerwall forecast adjusted 2016 earnings of $5 to $6.30 a share, while analysts are looking for $5.91 a share.
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