Cinemark shareholders are waking up to a nice Friday morning surprise. While media analysts expected another loss for the final quarter of 2021, the movie-exhibitor chain was actually able to turn a (very) slight profit — its first since the COVID-19 pandemic began.
Wall Street forecast Cinemark would lose 13 cents per share on $601.29 million in revenue. The company actually reported diluted earnings of 5 cents per share on $666.7 million in revenue. That revenue number resulted in a $5.7 million overall profit.
For the three months ended Dec. 31, 2021, Cinemark’s admissions revenues were $344.9 million and concession revenues were $248.1