Brent Lang Executive Editor of Film and MediaAMC Entertainment lost $561.2 million during a quarter where the world’s largest exhibitor’s cinemas were closed to moviegoers and virtually its entire staff was laid off or furloughed.
Revenues at the company topped out at $18.9 million, a 98% plunge from the year-ago period. AMC also reported a loss of $5.44 per share.
It had logged a profit of $49 million in the year-ago period, a time before global pandemics posed an existential threat to cinemas.Coronavirus has decimated AMC’s business, raising questions about its financial viability.
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