Chicken Soup for the Soul Entertainment CSSE shares plunged 25% in premarket trade as it said it would sell stock and reported a loss for the fourth quarter. The operator of Redbox, Crackle, and Chicken Soup for the Soul streaming services said its fourth-quarter loss widened to $56.3 million, or $2.70 a share, from $22.4 million, or $1.38 a share, in the year-earlier period. Revenue rose to $113.6 million from $36.0 million. Analysts polled by FactSet had expected a loss of $1.22 a share on revenue of $112.6 million. The company expects adjusted EBITDA of between $100 million and $150 million on revenue of approximately $500 million this year,
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
