Cinemark Swings To Profit In Q2, Beats Estimates

(RTTNews) - Cinemark Holdings, Inc. (CNK), a theatrical exhibition company, on Friday reported earnings for the second quarter, compared to loss last year with strong revenue growth. Earnings per share and top line beat market estimates.

The company reported quarterly earnings of $119.1 million or $0.80 per share, compared to a loss of $73.4 million or $0.61 loss per share of last year.

On average, ten analysts polled by Thomson Reuters expected the company to report earnings of $0.55 per share for the quarter. Analysts' estimates typically exclude one-time items.

Adjusted EBITDA was $231.5 million, compared to $138.3 million in the prior year.

Revenues increased 26.6 percent to $942.3 million from $744.1 million previous year. The Street estimate for revenue was $869.23 million for the quarter.

In pre-market activity, shares of Cinemark are trading at $17.30, down 0.11% on the New York Stock Exchange.