Big format giant Imax reported a surge in revenue last quarter and narrower losses compared with a shuttered 2020 as CEO Rich Gelfond said a deluge of Hollywood tentpoles arriving will drive people to theaters.Recovery has been slow.
Imax posted revenue of $51 million revenue versus $8.9 million. Net losses narrowed to $9.2 million, or 16 cents a share, from $26 million, or 69 cents.“IMAX delivered continued progress in operating results, demonstrating growing momentum for the Company.
Thanks to our asset-lite model, we capitalized on strong year-over-year growth in revenue and global box office to achieve another quarter of improved profitability,” said CEO Rich Gelfond. “Most encouragingly, the domestic box office is showing the same
Read more on deadline.com