Cinemark Returned to (Slight) Profitability in Final Quarter of 2021
Cinemark reported its fourth-quarter and full-year 2021 earnings early Friday morning.Wall Street forecast a loss of 13 cents on $601.29 million in revenue. Cinemark reported earnings of 5 cents on $666.7 million in revenue.Q4’s big theatrical releases included “Spider-Man: No Way Home,” “Dune,” “Ghostbusters: Afterlife,” “Venom 2,” “No Time to Die,” “Halloween Kills,” “Eternals” “Encanto” and “Sing 2.” “West Side Story” was also out there, but it tanked.For the three months ended December 31, 2021, admissions revenues were $344.9 million and concession revenues were $248.1 million, driven by attendance of 48.1 million patrons.