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Cinemark Posts Higher 3Q Earnings, Revenue

Movie theater

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PLANO (AP) – Cinemark Holdings Inc. today reports its third-quarter net income grew as more people turned out to see movies and average ticket prices rose.

Plano-based Cinemark is one of the country’s largest theater chains.

The company earned $33.3 million, or 29 cents per share, up 59 percent from $21 million, or 19 cents per share, in the same period a year earlier.

Revenue rose 13 percent to $560.2 million from $496.8 million.

Cinemark said theater attendance rose nearly 9 percent and average ticket prices increased by nearly 5 percent. Concession revenue per person grew more than 2 percent.

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