Cinemark Holdings Inc reports a 22.1% revenue drop in Q2 2024, staying profitable with success attributed to "Inside Out 2".
Cinemark Holdings Inc reported a 22.1% drop in Q2 2024 revenue to $734.2m, surpassing analyst consensus estimates, with EPS at $0.32. Admissions and concession revenues fell by 23.5% and 21.6%, respectively. Despite the drop, the company stayed profitable, attributing its success to "Inside Out 2". Cinemark plans to open three new theatres and 33 screens over the next two years, with a cash and equivalents balance of $788.8m as of June 30.
August 02, 2024
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