News

AMC Theatres Ups Q2 Revenue, Narrows Loss

AMC Theatres, the world’s largest movie exhibitor, saw a string of box office hits revitalize the moviegoing business in the second quarter (ended June 30). The Leawood, Kan.-based company reported a quarterly loss of $121 million on revenue of $1.17 billion. That compared with a net loss of $343.6 million on revenue of $444.7 million in the previous-year period.

Through six months of the fiscal year, AMC, which operates more than 10,100 screens worldwide, has generated a net loss of $459 million on revenue of $1.95 billion. That compared with a net loss of $910.5 million on revenue of $593 million.

“We would like to extend a special thank you to Doctor Stephen Strange, Tom ‘Maverick’ Cruise, Elvis Presley, and all those hungry people-eating ‘Jurassic’ dinosaurs who graced our big screens in the quarter,” CEO Adam Aron said in a statement. “Our Q2 2022 results, in our minds, prove once again what we have long said, that as Hollywood releases movies with broad consumer appeal, people will flock to see them at movie theatres in huge and eye-popping numbers.”

Aron said AMC’s current internal forecast is that the 2023 domestic and international box office will be billions of dollars larger than that of 2022.

“We look forward to Q4 of 2022 and calendar year 2023 with glee,” he said.

Subscribe HERE to the FREE Media Play News Daily Newsletter!

Leave a Reply

Your email address will not be published.

20 − 3 =

This site uses Akismet to reduce spam. Learn how your comment data is processed.