Summer blockbusters like “Deadpool & Wolverine” and “Twisters” weren’t enough to keep AMC Entertainment from posting a $20.7 million loss during its most recent quarter. It compared unfavorably to the $12.
3 million in profit that the world’s largest theater chain posted in the year-ago period. At the same time, revenue at AMC fell 4.1% to $1.
3 billion, down from the $1.4 billion that AMC reported in the year-ago period, which saw the dual releases of “Barbie” and “Oppenheimer,” a double-billing that turbocharged the box office and inspired the portmanteau “ Barbenheimer .” The company reported a loss per-share of 7 cents, compared to earnings of 8 cents in the year-ago quarter.
Attendance at the theater chain also declined, dropping from 73.6 million to 65.1 million on the weaker slate of films.
Consequently, admissions revenue dropped from $798 million to $744.2 million, but revenue from concessions grew from $482.7 million to $490.
4 million. Other films released during the three-month period ending in September included “Beetlejuice Beetlejuice” and “Alien: Romulus.” AMC chief Adam Aron has been publicly bullish on the health of the movie business, noting that next year will see the release of sequels to popular franchises such as “Jurassic World,” “Mission: Impossible,” “Captain America” and “Avatar.
” He also expressed optimism about how holiday movies like “Gladiator II” and “Wicked” will perform with audiences. “A.
