AMC revenue drops nearly 90 percent in fourth quarter, but CEO remains optimistic

AMC revenue drops nearly 90 percent in fourth quarter, but CEO remains optimistic


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AMC Theaters reported another jarring but predictable loss in its fourth quarter earnings, but the company’s CEO is optimistic that the theater chain will make it out of the pandemic alright.

Revenue was down 88 percent year over year, to $162.5 million. While beating expectations, that still led to a quarterly loss of $946 million (slightly better than the last quarter, though significantly worse than the $13.5 million loss AMC reported in its 2019 fourth quarter), but AMC also has more than $1 billion in cash on hand, according to CEO Adam Aron. On the tailwinds of announcements that New York City would start to allow theaters to open, and studios seemingly preparing to head back to theaters, Aron is trying to find the positives while…

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