AMC expects people to return to theaters when the vaccine rollout gains momentum
© Reuters. FIELD PHOTO: People walk past an AMC theater involved in the coronavirus disease (COVID-19) pandemic in the Manhattan neighborhood of New York City, New York, the United States, on Jan. 27, 2021. REUTERS / Carlo Allegri
(Reuters) -AMC Entertainment Holdings announced Thursday that business is expected to improve in the coming months as the mass rollout of COVID-19 vaccines draws moviegoers to the cinemas of the cinema chain.
A strong list of big budget films, including “Fast & Furious” movie “F9” and Marvel’s “Black Widow”, is expected to see box office sales rebound in the summer after the 2020 pandemic slump.
“We can now finally say that we see an increasingly favorable environment for filming and for AMC as a company in the coming months,” said CEO Adam Aron in a statement.
However, revenue for the company declined from $ 941.5 million a year ago to $ 148.3 million for the quarter ended March 31, missing a refinitive IBES estimate of $ 153.43 million.
Net loss decreased from a loss of $ 2.18 billion, or $ 20.88 per share, to $ 567.2 million, or $ 1.42 per share, for the quarter.
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