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Cinemark Reports $59.6 Million Loss in COVID-19 Impacted First Quarter

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thewrap.com
thewrap.comthewrap.com:

Cinemark Holdings reported financial results for the first quarter on Wednesday that the company said were impacted by the ongoing novel coronavirus pandemic, which has kept the cinema chain’s theaters closed since March — though it appears the worst is yet to come.

The theater chain reported a net loss of $59.6 million for the three-month period ending March 31, or a loss per share of 51 cents.

Analysts following the stock via Yahoo! Finance were expecting a loss of 18 cents in the quarter. That after reporting net income of $32.7, or earnings per share of 28 cents during the same quarter a year ago.

Revenue for the first quarter was $543.6 million, down from $714.7 million compared with the same quarter last year. Analysts were

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dailyrecord.co.uk
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