Cinemark Holdings Inc.’s stock
CNK,
fell 1.8% early Friday, after the cinema operator’s fourth-quarter loss was wider than expected. Plano, Texas-based Cinemark posted a net loss of $18 million, or 15 cents a share, for the quarter, narrower than the loss of $99.3 million, or 82 cents a share, posted in the year-earlier period. Revenue rose 6.5% to $638.9 million. The FactSet consensus was for a loss of 7 cents and revenue of $620.0 million. Cinemark ended the quarter with 5,719 screens across the U.S. and commitments to open 5 new theaters and add 43 screens over the next two years. The stock has gained 40% over the last 12 months, while the S&P 500
SPX,
has gained 23%.
