Cinemark stock drops after swinging to wider-than-expected loss, while revenue beat forecasts

Shares of Cinemark Holdings Inc. CNK fell 3.7% in premarket trading Friday, after the movie theater operator reported fourth-quarter losses that were wider than expected, although revenue beat forecasts. The company swung to a net loss of $99.3 million, or 82 cents a share, from net income of $5.7 million, or 5 cents a share, in the year-ago period. The FactSet consensus for per-share losses was 32 cents. Revenue fell 10.0% to $599.7 million, to beat the FactSet consensus of $572.

7% in premarket trading Friday, after the movie theater operator reported fourth-quarter losses that were wider than expected, although revenue beat forecasts. The company swung to a net loss of $99.3 million, or 82 cents a share, from net income of $5.7 million, or 5 cents a share, in the year-ago period. The FactSet consensus for per-share losses was 32 cents. Revenue fell 10.0% to $599.7 million, to beat the FactSet consensus of $572.2 million, as admission revenue declined 11.7% to $304.

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