By Dean Seal
Shares of Cinemark fell after the company turned in a record revenue performance for the fourth quarter but delivered a smaller profit than analysts had expected.
The stock was down 15% at $28.07 in early trading. Shares are down almost 10% on the year but were trading at around $16.54 this time a year ago.
The movie-theater chain said Wednesday that revenue surged more than 27% to $824.3 million during the quarter.
Cinemark swung to a profit of $51.3 million from a loss of $18 million a year ago. But the bottom line missed analyst projections by $10 million, according to FactSet. Earnings of 33 cents a share were 5 cents shy of analyst estimates.
Costs may have been a bigger issue than expected. Film rentals and advertising expenses were up by more than a third year-over-year. The total cost of operations was 16% higher.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 19, 2025 10:25 ET (15:25 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。