Big format giant Imax reported a surge in revenue last quarter and narrower losses compared with a shuttered 2020 as CEO Rich Gelfond said a deluge of Hollywood tentpoles arriving will drive people to theaters.Recovery has been slow.
Imax posted revenue of $51 million revenue versus $8.9 million. Net losses narrowed to $9.2 million, or 16 cents a share, from $26 million, or 69 cents.“IMAX delivered continued progress in operating results, demonstrating growing momentum for the Company.
Thanks to our asset-lite model, we capitalized on strong year-over-year growth in revenue and global box office to achieve another quarter of improved profitability,” said CEO Rich Gelfond. “Most encouragingly, the domestic box office is showing the same
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