Cinemark Stock Pops On Record Q3 Revenue

Cinemark reported its strongest third quarter on record, with revenue rising 23% to $1.1 billion as the box office recovered. The results point to stronger cinema attendance and spending, while the company’s shares rose about 4% in premarket trading.

For the three months ended in September, attendance increased to 37.4 million from 33.2 million, and average ticket prices rose to $11.16 from $10.50. Net income climbed to $123 million, or $1.04 a share, from $49.5 million; Cinemark also reported $66 million in free cash flow and expects full-year capital investment of about $250 million.