Cinemark Slips To Net Loss In Q1, Stock Fell In Pre-market

(RTTNews) - Cinemark Holdings, Inc.(CNK), a motion picture exhibition business, on Friday announced that its first quarter came in at loss compared with profit last year.

Shares of Cinemark are decreasing by 3% in the pre-market trading.

For the first quarter, net loss attributable to the company was $38.9 million compared to profit of $24.8 million last year.

Loss per share for the quarter was $0.32, while it was earnings per share of $24.8 in the previous year.

Revenue declined to $540.7 million from $579.2 million last year.

In the pre-market trading, Cinemark is 3.71% lesser at $28.78 on the New York Stock Exchange.