07:19 AM EDT, 05/09/2025 (MT Newswires) -- Cineplex ( CPXGF ) on Friday said its first-quarter net loss narrowed and revenue fell as both missed estimates.

Net loss from continuing operations decreased 42% to $36.6 million, or $0.58 per share, from $63 million, or $0.99 per share, for the prior year period. The result missed the consensus analyst estimate of a loss of $0.46 per share, according to Capital IQ.

Total revenue dipped 10% to $264.3 million, missing expectations of $271 million. Theatre attendance fell 15% to 8.4 million.

"While the first quarter landed softer than expected due to March performance, the success of A Minecraft Movie at the start of the second quarter, paired with the optimism following CinemaCon, has energized the exhibition industry," said Chief Executive Ellis Jacob. "A highly engaged cinema audience coupled with a steady and predictable film slate is driving interest and investment from advertisers leading to a 38% growth in cinema media revenue."