AMC's second-quarter revenue falls almost 99%

AMC Entertainment Holdings Inc. saw revenue plummet almost 99% in the second quarter, resulting in a $561 million net loss as the theater giant wrestled with the fallout from the Covid-19 pandemic.

The Kansas-based company (NYSE: AMC) shuttered all of its U.S. theaters for the entire second quarter, which ended June 30. The action came in response to what CEO Adam Aron called “a once in a century event” that “transformed 2020 into a brutal year.”

AMC reported second-quarter revenue of $18.9…

Source: The Business Journal