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Cinemark: 2Q Earnings Snapshot

August 4, 2020 GMT

PLANO, Texas (AP) _ Cinemark Holdings Inc. (CNK) on Tuesday reported a second-quarter loss of $170.4 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Plano, Texas-based company said it had a loss of $1.45. Losses, adjusted for restructuring costs, were $1.32 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $1.46 per share.

The movie theater owner posted revenue of $9 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $6.9 million.

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Cinemark shares have fallen 65% since the beginning of the year. The stock has dropped 70% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CNK at https://www.zacks.com/ap/CNK