CBS 11 Header TXA 21 Header MeTV Header KRLD Header The Fan Header
LIVE: West Explosion Memorial Service | Click To Watch | Complete West Explosion Coverage

Local

Cinemark’s Q2 Net Income Edges Up

View Comments

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

From Our CBS Music Web Sites

kluvs super 70s weekend voting 1979 dl Cinemarks Q2 Net Income Edges UpPick The Best Song From 1979

115245513 8 Cinemarks Q2 Net Income Edges UpCrush Of The Day: Mila Kunis

80219448 Cinemarks Q2 Net Income Edges UpViral Video: Hilarious Southwest Safety Announcement

155742164 Cinemarks Q2 Net Income Edges UpPick Your Favorite Victoria Secret Model

Featured Items

Fantasy_tileHottest Olympians

pet_tileYour Pet Photos

weather_tileSend Us Your Weather Photos

PLANO (AP) - Movie theater chain Cinemark Holdings Inc. said its second-quarter net income edged up as higher revenue from tickets and concessions outpaced higher costs for film rentals and other expenses.

About 10 percent more people went to movies at Cinemark theaters during the three months ended June 30 compared with atlast year. People spent about 4 percent more on snacks and drinks and the average ticket price rose almost 5 percent.

Net income rose 1 percent to $40.4 million, or 35 cents per share, from $39.7 million, or 35 cents per share. Analysts expected net income of 41 cents per share, according to a FactSet poll.

Revenue rose 15 percent to $620.6 million from $539.4 million last year. Analysts expected $595 million.

Admission revenue rose 15 percent to $405.9 million. Concession revenue rose nearly 15 percent to $189.3 million.

Shares rose 54 cents, or 3 percent, to $18.46 during afternoon trading Friday.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments