Cinemark 3Q Profit Up 2.8 Percent

PLANO, Texas (AP) — Movie-theater operator Cinemark Holdings Inc. said Monday its third-quarter profit rose 2.8 percent as its international movie theaters outdid its domestic ones.

Cinemark earned $21 million, or 19 cents per share, in the quarter ended Sept. 30. That was up from $20.4 million, also 19 cents per share on fewer outstanding shares, in the same period a year ago.

Revenue rose 4.3 percent to $496.8 million from $476.2 million.

Both profit and revenue surpassed the average forecast of analysts polled by Thomson Reuters. They were expecting earnings of 16 cents per share on $478.5 million in revenue.

Attendance rose 4.5 percent from a year ago.

"Our growth outpaced the domestic industry box office for the fourth consecutive quarter," said CEO Alan Stock, in a statement. "South American countries continue to outpace the U.S. economic recovery and we continue to benefit from solid industry trends and the expansion of our international portfolio."

He said the fourth quarter was "off to a good start, as patrons continue to enjoy the cinema as an exciting, low cost form of entertainment."