Cinemark, the No. 3 theater chain in the U.S., reported strong financial results in the second quarter, with total revenue increasing 18% to $889 million and diluted earnings per share up 10% to $1.23.
“Given the all-time high box office that the North American industry celebrated in the second quarter and first half of the year, we remain bullish on full-year 2018 box office potential, while our enthusiasm for the 2019 film slate continues to grow,” said CEO Mark Zoradi.
Domestic revenue climbed 28% to $712 million, while international revenue fell 10% to $180 million. Global revenue was paced by a 13% rise in admissions revenue and a 16% gain in concessions.
Attendance hit 50.6 million in the period, with ticket prices averaging $8.08.
Cinemark owns 339 theaters with 4,566 screens in 41 states.
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The circuit last December launched Cinemark Movie Club, which allows members to see one film a month for $8.99, with discounts on guest moviegoers and concessions. Zoradi has not been as vocally opposed to the most infamous subscription player, MoviePass, but has said Cinemark’s subscription plan is aimed at more casual moviegoers.
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