Cinema giant AMC Theatres posted a steep fourth-quarter and full-year loss and revenue fall as it reopens theaters in New York City at limited capacity amid the novel coronavirus pandemic.
The company, led by president and CEO Adam Aron, posted quarterly revenue falling 88 percent to $162.5 million as the forced closure of parts of its circuit due to the pandemic and a lack of new movies continued to affect the business. And the chain’s net loss for the fourth quarter grew to $946.1 million, compared to a year-earlier loss of $13.5 million. The per-share loss was $6.21, against a year-earlier 13 cents.