AMC Beats Estimates, Even With Movie Attendance Weak
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AMC Entertainment Holdings Inc. posted a narrower quarterly loss, beating analysts’ estimates with results that nonetheless underscore the movie industry’s struggle to draw fans back to cinemas and compete with streaming options at home.
The world’s largest theater chain, struggling under $5.5 billion in corporate borrowings, said Monday its loss shrank to 71 cents a share, excluding some items, better than the 94-cent loss analysts were predicting. Revenue soared to $444.7 million, from virtually nothing a year ago, and was better than the $382.3 million that Wall Street expected.