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AMC Theatres Discloses $2.17 Billion Quarterly Loss Amid Pandemic Closure

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hollywoodreporter.com
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Exhibition giant AMC Theatres, hit in mid-March by a shutdown of its circuit amid the coronavirus pandemic, on Tuesday reported a deep first quarter loss due to onetime impairment charges, on sharply lower overall revenues.

AMC, which has closed its theaters through to the end of June and is expected to detail its reopening plans during an analyst call, posted a quarterly loss of $2.17 billion, which included $1.85 billion of non-cash impairment charges, against a year-earlier loss of $130 million.

The chain said it expects to be"fully open globally in July." The adjusted per-share net loss for the first quarter was $2.22, against a year-earlier 98 cents.

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