Despite box office grosses from Avatar: The Way of Water and Black Panther: Wakanda Forever during the holiday period, AMC Entertainment Holdings has seen its fourth quarter revenues fall and its net loss rise on a non-cash impairment write-down.
On Tuesday, the parent of AMC Theatres reported fourth quarter revenues at $990.9 million, down from a year-earlier $1.17 billion. Wall Street analysts had forecast revenues of $1.05 billion for the latest quarter.
The per-share loss came to 26 cents, against a year-earlier loss of 13 cents, and the fourth quarter loss came to $287.7 million, well up from a loss of $134.4 million in 2021, as AMC seeks to continue recovering from the COVID-19 crisis and contend with changing consumer habits in the age of streaming.