Cinemark's quarterly results beat estimates
(Reuters) - Motion picture exhibitor Cinemark Holdings Inc's quarterly results beat analysts' estimates, helped by higher admissions and concession revenues.
Net income rose to $51.6 million, or 45 cents per share, in the second quarter, from $40.4 million, or 35 cents per share, a year earlier.
Quarterly revenue rose 5 percent to $649.6 million.
Sales from admissions rose about 3 percent to $418.1 million, while those from concession rose 6 percent to $201.4 million.
Analysts on average had expected earnings of 37 cents per share, on revenue of $630.7 million, according to Thomson Reuters I/B/E/S.
Shares of the company closed at $24.05 on the New York Stock Exchange on Friday.
(Reporting by Chandni Doulatramani in Bangalore; Editing by Supriya Kurane)
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