Reuters
Theater chain AMC falls 8% on worries of slower box-office recovery
“This is AMC’s fourteenth consecutive quarterly loss and the market is punishing the shares for that fact,” Hargreaves Lansdown analyst Sophie Lund-Yates said. While more people are returning to the theaters, Hollywood has been releasing fewer movies “of late”, AMC Chief Executive Adam Aron said at a post-earnings call on Tuesday. In the United States and Canada, box office collection was above $11 billion in 2019, but since the COVID-19 pandemic, the numbers have fallen drastically, with 2022 box office numbers coming in at $7.4 billion, the company said.