Cinemark stock rises toward 5th-straight gain after earnings beat, boosted by a record July box office

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Tomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter @TomiKilgore.

Shares of Cinemark Holdings Inc. CNK, +1.63% rallied 2.4% toward a fifth-straight gain in premarket trading Friday, after the movie theater operator reported third-quarter earnings that were well above expectations, boosted by a jump in admissions, including a record domestic box office in July. The company swung to net income of $90.2 million, or 61 cents a share, from a loss of $24.5 million, or 20 cents a share, in the year-ago period.

The FactSet consensus for earnings per share was 41 cents. Revenue grew 34.5% to $874.8 million, above the FactSet consensus of $845.6 million, as admissions revenue jumped 36.7% to $443.8 million and concession revenue increased 34.0% to $339.8 million. Admission rose 27.9% to 61.9 million guests, and average ticket price increased 6.9% to $7.17. The stock, which has run up 8.6% over the past four sessions, has still slipped 2.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines