Cinemark: 2Q Earnings Snapshot
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.
Cinemark shares have fallen 65% since the beginning of the year. The stock has dropped 70% in the last 12 months.