Cinemark Holdings Inc. (CNK) announced a second-quarter profit that, while lower than the same period last year, surpassed Wall Street expectations.
The company reported earnings of $45.8 million, or $0.32 per share, compared to $119.1 million, or $0.80 per share, in the prior year's second quarter.
According to Thomson Reuters, analysts had, on average, projected earnings of $0.09 per share for the quarter. Analysts' forecasts generally exclude special items.
For the quarter, Cinemark's revenue declined 22.1% to $734.2 million from $942.3 million in the previous year.
Key financial highlights for Cinemark Holdings Inc. (GAAP) in Q2:
- Earnings: $45.8 million, down from $119.1 million last year
- EPS: $0.32, down from $0.80 last year
- Revenue: $734.2 million, down from $942.3 million last year
