Imax Earnings Get a Lift From China Box Office
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variety.comBrent Lang Executive Editor of Film and MediaThe coronavirus pandemic continued to be a drag on IMAX’s earnings during the first quarter, but there were signs that a box office revival in Asia could foreshadow a moviegoing return in the U.S.
and other markets. The exhibition company reported revenues of $38.8 million, an 11% bump from the prior-year quarter, as well as a net loss of $14.8 million, an improvement on the $49.4 million the company lost in the year-ago period.
That amounted to a loss of 25 cents per diluted share. Imax attributed the loss to the impact of theater closures due to the pandemic, as well as the capacity restrictions that are still in place in many major markets.
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