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AMC Entertainment Swung To The Red Last Quarter On Fewer Movies But CEO Upbeat After June Turnaround
Big theater chain AMC Entertainment swung to red last quarter as fewer films hit screens due to Hollywood strikes, but the worst is over, says CEO.
Fewer films hit screens due to the Hollywood actors and writers strikes, but CEO Adam Aron said the worst and a major uptick that started in June is continuing. “As we accurately predicted and previously disclosed, the prolonged actors and writers strikes of 2023 severely reduced the number of movies being released theatrically in the early months of 2024. This explains the weakness in our preliminary Q2 2024 results, as contrasted with the same quarter of a year ago,” said CEO Adam Aron.
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