By Denny Jacob
Cinemark swung to a loss and saw revenue decline in its latest quarter, reflecting less spending from moviegoers who saw fewer movies to start the year.
The movie-theater chain swung to a loss of $38.9 million, or 32 cents a share, compared to net income of $24.8 million, or 19 cents a share, in the prior-year period. Analysts polled by FactSet expected a loss of 32 cents a share.
Revenue declined to $540.7 million from $579.2 million. Analysts polled by FactSet expected $524.3 million.
Attendance declined nearly 8% to 36.6 million moviegoers for the first three months of 2025.
Admissions revenue decreased nearly 9% to $264.1 million from a year earlier, while concessions revenue decreased around 6% at $210.4 million.
"We continue to expect a favorable rebound in our industry's recovery trajectory this year, and the second quarter is already pacing well ahead of 2024's box office results," said Chief Executive Sean Gamble.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
May 02, 2025 06:52 ET (10:52 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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