Coinstar (CSTR) Down 4% After Sale Of E-Payment Unit

Shares of Coinstar Inc CSTR were down 3.96% at $50.88 in after hours trading on Wednesday. Coinstar Inc sold its electronic payment services business to InComm for $40 million and lowered its 2nd quarter forecasts to account for the sale. Coinstar Inc now forecasts 2nd quarter earnings of 28 cents to 32 cents per share, on revenue of $363 million to $383 million. Before the sale, Coinstar Inc forecast earnings of 30 cents to 34 cents per share, on revenue of $370 million to $390 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 35 cents per share, on revenue of $386.5 million.