Cinemark Stock Jumps as $579 Million Q1 Revenue Beats Expectations
02/05/2024 13:32
Cinemark's stock ticked up over 3% in pre-market trading on Thursday as the company's Q1 earnings beat Wall Street expectations with $579 million in revenue, only a 5% dip from 2023's $611 million despite a sluggish start to 2024's box office. Zacks anticipated an 8.6% drop to $558 million, but the Texas-based chain managed to deftly maneuver a tricky first quarter. "Dune: Part Two," "Kung Fu Panda 4" and "Godzilla x Kong" have been the primary bright spots at the box office so far, in contrast to 2023's Q1 which was lifted by Marvel's "Ant-Man and the Wasp: . . .
