Blockbuster Earnings: Cheers and Jeers

Blockbuster (BBI) gets mixed reviews for its Q1 financial results.

The bottom-line gets raves: profits of 20 cents a share beat the Street by a nickel.

The top-line gets jeers: revenue of $1.39 billion missed the consensus view of $1.44 billion.

Blockbuster said it had 2.9% same-store sales growth, with a 0.4% rise in same-store rental revenue and a 19.7% increase in same-store merchandise sales. The company said it had an increase in domestic same store revenues for the first time in five years.

BBI today is up 7 cents, or 2.3%, to $3.14.