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Toronto- On Tuesday, Cineplex Inc . (TSX:CGX) reported second quarter revenue of $361.8 million, a 30.5% increase from $277.3 million in the same period last year, driven by a 32.7% jump in theatre attendance to 11.6 million patrons.
The company narrowed its net loss to $2.2 million, or $0.03 per share, a significant improvement from a $21.3 million loss ($0.33 per share) in the prior-year quarter. Adjusted EBITDAaL soared to $33.4 million compared to just $0.9 million a year ago, reflecting the strong performance across all business segments.
Box office revenue climbed 38.4% to $158.5 million, with box office per patron reaching an all-time quarterly record of $13.68, up 4.3% YoY. The quarter’s performance was fueled by blockbuster releases including "A Minecraft Movie," "Lilo & Stitch," and "Mission: Impossible - The Final Reckoning."
Food service revenue increased 34.9% to $130.4 million, with concession revenue per patron hitting a record $10.04, up 5.0% from the prior year. Media revenues grew 9.1% to $31.8 million, while location-based entertainment revenue rose 13.0% to $33.2 million.
The company’s stock price remained relatively unchanged following the results, as the market had already anticipated strong performance based on the robust film slate during the quarter.
Looking ahead, Cineplex expects continued momentum with upcoming releases including "Freakier Friday," "Tron: Ares," "Wicked: For Good," and "Avatar: Fire and Ash."
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