Blackhawk Shares Fall 10% After Earnings Miss, Outlook

Blackhawk Network Holdings Inc. shares dropped in the extended session Wednesday after the gift-card and prepaid phone company's quarterly results and outlook fell short of Wall Street estimates. Blackhawk shares dropped 10% to $33.60 after hours. The company reported adjusted fourth-quarter earnings of $1 a share on adjusted revenue of $352 million. Analysts surveyed by FactSet had estimated $1.10 a share on revenue of $367.9 million. For 2017, Blackhawk sees adjusted earnings of $1.56 to $1.70 a share on revenue of $1.03 billion to $1.14 billion. Analysts expect $1.89 a share on revenue of $1.07 billion.

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