Cinemark Revenue All but Evaporates, but Still Beats on Earnings

Cinemark Revenue All but Evaporates, but Still Beats on Earnings

Theater owner Cinemark Holdings (NYSE: CNK) reported the coronavirus pandemic obliterated its second-quarter revenue, which plummeted 99% to just $9 million. Cinemark's theaters have been closed since March 17. Virtually all of the revenue Cinemark generated in the quarter came from the amortization of screen advertising advances.