Cineplex reports $36.6-million first-quarter loss as theatre attendance fell due to a weaker film slate
Cineplex Inc. CGX-T reported a loss of $36.6-million in its latest quarter as its revenue fell 10 per cent compared with a year ago due to a weaker film slate.
The movie theatre company says the loss amounted to 58 cents per diluted share for the quarter ended March 31.
The result compared with a profit of $5.2-million or eight cents per share a year ago when it sold its Player One Amusement Group Inc. business.
Cineplex says its loss from continuing operations for its latest quarter was 58 cents per diluted share compared with a loss of 99 cents per diluted share in the first quarter of 2024.
Revenue for the quarter totalled $264.3-million, down from $294.8-million a year ago.
Theatre attendance amounted to 8.4 million, down from 9.8 million in the same quarter last year.
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