Thursday, July 26, 2007

Blockbuster flips to loss on higher spending

(Reuters) - NEW YORK, July 26 - Blockbuster Inc. , the No. 1 U.S. movie rental chain, returned to a quarterly net loss on spending to enable its online DVD rental service to grab market share from rival Netflix Inc .



Blockbuster reported a second-quarter loss of $35.3 million, or 20 cents per share, compared with a profit of $68.4 million, or 31 cents per share, in the year-ago quarter.


Read more at Reuters.com Market News

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