Cinemark Trades Higher On Q2 Earnings Beat

Cinemark Holdings, Inc. CNK reported second-quarter earnings of 86 cents per share, which beat the analyst consensus estimate of 78 cents by 10.26%. This is a 22.86% increase over earnings of 70 cents per share from the same period last year.

The company reported quarterly sales of $957.756 million, which beat the analyst consensus estimate of $911.54 million by 5.07%. This is a 7.73% increase over sales of $889.053 million the same period last year.

"We are extremely pleased with our worldwide second quarter results that were generated by our domestic box office, which surpassed the North American industry in excess of 300 basis points, a significant rebound in international attendance and continued strength in our global food and beverage sales," said Mark Zoradi, Cinemark's CEO.

Cinemark  shares were trading up 1.73% at $40 in Friday’s pre-market session. The stock has a 52-week high of $43.51 and a 52-week low of $34.03.

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