In what may become the next casualty of COVID-19, AMC Entertainment (NYSE: AMC), the world's largest movie theater company, said in filing that it may not be able to survive the pandemic. The company has generated close to zero revenue as government regulations have kept theaters closed and people are staying home to stay safe.
Although AMC is planning to release its first-quarter earnings report on June 9, the company released a preliminary report today. For the quarter ended March 31, AMC's revenue was $941.5 million, a 22% decrease year over year. Net loss is expected to be between $2.1 billion and $2.41 billion compared to a loss of $130 million in 2019.
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Source Fool.com