Shares of Cineplex Inc. fell Wednesday after the company reported a drop in second-quarter profit compared with a year ago as fewer people filled its theatres. The stock fell as low as $41.50 before recovering some of the ground it lost. Revenue improved to $364.1 million, up from $338.0 million in the same quarter last year. Meanwhile, box office revenue totalled $170.7 million, up from $166.7 million, while attendance slipped to 16.5 million compared with 16.9 million a year ago. Food service revenue grew to $101.4 million compared with $96.8 million, while media revenue fell to $36.6 million from $40.2 million in the same quarter last year.

Source: CBC News August 02, 2017 15:45 UTC