Stocks fell broadly on economic jitters with AMC Entertainment and Paramount struggling to stay in the green in late morning trade after the biggest Memorial Day movie opening ever in Top Gun: Maverick. Things change fast lately on a Wall Street buffeted by the latest news on war, inflation and interest rates, so this is
AMC Entertainment offered a preview of its quarterly earnings Tuesday, anticipating revenue for the three months ended in March of $148 million, way down from $941.5 million the year before as the box office struggled to revive amid the global pandemic. AMC expects to announce a net loss of between $572 million and $567 million.
Giant exhib AMC Entertainment said it expects to report ballooning losses of between $2.1 and $2.4 billion for the first quarter ended in March on one-time charges compared with losses of $130 million the year before. Announcing preliminary results Wednesday, it anticipated revenue of $941 million last quarter versus $1.2 billion the year earlier. The