Cineplex Narrows Q1 Loss to C$22.4 Million as Box Office Revenue Jumps 25%
Updated
Updated · MarketWatch · May 11
Cineplex Narrows Q1 Loss to C$22.4 Million as Box Office Revenue Jumps 25%
1 articles · Updated · MarketWatch · May 11
Summary
Cineplex posted a first-quarter net loss of C$22.4 million, improving from a C$36.6 million loss a year earlier, while adjusted EBITDA rose to C$44.7 million from C$29.9 million.
Box-office revenue climbed 25% as strong turnout for Project Hail Mary and Hoppers and a bigger mix of international films lifted theater traffic; international titles made up 13% of box-office revenue.
Revenue increased 16% to C$291 million, though that fell short of analysts' C$294.2 million forecast.
April box-office revenue was already up 17%, suggesting the stronger film slate carried into the new quarter.