The extent of the COVID-19 hit AMC took was underlined by overall revenues tumbling to $18.9 million, compared to a year-earlier $1.5 billion
Cinema giant AMC Entertainment Holdings on Thursday posted second-quarter financial results as it looks to reopen its theaters and survive the coronavirus pandemic after a debt restructuring.
AMC's U.S. theater circuit was closed down for the entire second quarter. The international movie theaters resumed limited operations in early June. AMC had restarted at 37 theaters in nine countries as of June 30. The second quarter overall loss was $561.2 million, compared to a year-earlier profit of $49.4 million.
"AMC still has the highest risk profile within our coverage universe of exhibition related companies, even after its debt restructuring deal," Eric Handler, an analyst at MKM Partners, said in an Aug. 4 investors note.
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