Imax said today it expects return to pre-pandemic gross box office level of $1.1 billion in 2023. It reported slightly higher than anticipated revenue of $98 million for the fourth quarter, down 10% from the year before.
But the company said 2023 is off to a strong start with the rapid re-opening of the Chinese box office, the record-breaking performance of Avatar: The Way of Water – the highest grossing first-run Imax release of all time with more than $253 million.
Ant-Man & The Wasp: Quantumania delivered $12.2M in Imax box office for the Presidents’ four-day weekend, 10% of the overall North America gross.
Imax reported earnings per share a bit below the Street estimates at 19 cents, down from an EPS of 31 cents. The company had a strong $61 million in local language box office during the Chinese New Year holiday, up 72% over 2022.
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