AMC's "Better" Isn't the Same Thing as "Good"
The good news is movie theater chain AMC Entertainment Holdings (NYSE: AMC) topped last quarter's revenue and earnings estimates. The bad news is it's still deep in the red, and only selling a fraction of the number of tickets it was selling before the pandemic took hold.
None of this is terribly shocking, of course. A year earlier, the world was largely shut down due to COVID-19. Though the contagion is still with us, consumers and businesses alike are coping. Theaters in the U.S. were mostly reopened by March -- before AMC's second quarter began -- and studios were at least willing to give theaters a try. Universal's Fast and Furious series entry F9 debuted in June, catching the tail end of the quarter in question. A Quiet Place, Part II, and Hitman's Wife's Bodyguard were also released in May and June, respectively. Godzilla vs. Kong was in theaters back in April. They weren't necessarily must-sees, but for newly vaccinated movie-goers ready to get out and do something close to normal again, they were something.
As it turns out, though, they were still very little. AMC has miles to go before nearing the sort of business it was doing before the coronavirus rattled the world.
Source Fool.com
