Cinemark revenue set a record in the third quarter, thanks to blockbusters like Barbie and Oppenheimer, and even notched a 6% gain over pre-pandemic 2019 levels.
The major exhibitor reported revenue of $875 million in the quarter ending September 30, up 35% over the year-ago period. Earnings per share of 61 cents on a diluted basis represented a return to profitability, compared with a loss of 20 cents a share a year ago.
July was Cinemark’s biggest domestic box office month of all time, with Barbie and Oppenheimer combining in a rare cultural explosion.
Songs of Freedom, a left-field hit, also proved a welcome serendipity for theater owners. The current fourth quarter could be a bit more problematic for theater owners, as the ongoing SAG-AFTRA strike has forced the delay of a number of films in the period.
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