Cinemark announces Q4 and year-end 2021 results
During the three-month period ending December 31, 2021, Cinemark Holdings announced Q4 revenue of $666.7 million, an increase of 579.0% over Q3 2020 revenue of $98.2 million. Total revenue for fiscal reach $1.5 billion, an increase of 120.1% over the $686.3 million reported in fiscal 2020. The company, however did still report a net loss of $422.8 million, though losses are improving from the net loss of $616.8 million loss reported in 2020.
Balance SheetIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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