AMC Reports 90% Loss in Revenue as Theaters Across the Country Stay Empty

AMC Reports 90% Loss in Revenue as Theaters Across the Country Stay Empty
The narrative continues to be an ugly one for AMC Theatres. The largest theater chain in the U.S. recently reported its third-quarter earnings and the results were brutal. The company saw more than a 90 percent drop in revenue over the three-month period. The staggering decline comes as theaters continue to struggle with the box office essentially on life support.

AMC reported $119.5 million in sales during the quarter, down from $1.3 billion during that same period last year. The company also reported $905.8 million in losses during that period, up from $54.8 million last year. Adam Aron, CEO and President of AMC, had this to say.

"The magnitude of the impact of the global pandemic on the theatrical exhibition industry was again evident in our third quarter results, as theatre operations in the U.S. were suspended for nearly two-thirds of the quarter. And yet, despite unrelenting obstacles, the AMC team continued to
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