Cinemark Delivers Blockbuster Q3 Show: Sales Leap On Entertaining 62M Global Moviegoers, EPS Exceeds Expectations
Portfolio Pulse from Nabaparna Bhattacharya
Cinemark Holdings Inc (NYSE:CNK) reported Q3 FY23 sales growth of 34.5% YoY to $874.80 million, beating the analyst consensus. EPS of $0.61 also exceeded expectations. Admissions and concession revenues increased significantly, driven by a 27.9% increase in attendance. The company's aggregate screen count was 5,765, with commitments to open four new theatres and 41 screens over the next two years. Despite the positive report, CNK shares are trading lower by 2.02%.
November 03, 2023 | 4:09 pm
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Cinemark reported strong Q3 FY23 results, beating sales and EPS expectations. Despite this, CNK shares are trading lower.
Cinemark reported strong Q3 FY23 results, with significant increases in sales and EPS. This is generally positive news that would be expected to increase the stock price. However, despite the positive earnings report, CNK shares are trading lower, indicating that other factors may be influencing the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100