Cinemark: 1Q Earnings Snapshot
PLANO, Texas (AP) _ Cinemark Holdings Inc. (CNK) on Wednesday reported a first-quarter loss of $59.6 million, after reporting a profit in the same period a year earlier.
The Plano, Texas-based company said it had a loss of 51 cents per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.
The movie theater owner posted revenue of $543.6 million in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $562.9 million.
Cinemark shares have fallen 53% since the beginning of the year. The stock has decreased 58% in the last 12 months.