Blockbuster swings to 1Q profit on US sales growth

Blockbuster's revenue slipped 5 percent to $1.39 billion after closing or selling 412 stores.

Analysts polled by Thomson Financial forecast net income of 15 cents per share on sales of $1.44 billion.

The company trimmed expenses to $632 million, down $100 million from the same period last year, mostly through cuts in advertising spending and a drop in corporate overhead.

Its shares fell 2 cents to $3.05 Thursday.