IMAX Earnings Sink Due to Coronavirus Pandemic

📆 29-10-20 17:30:00
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IMAX Corporation was hit hard by coronavirus that cut its third quarter revenues in half and sent its earnings into negative territory. Revenues at the exhibitor plunged 56.9% to $37.3 million, dow…

that cut its third quarter revenues in half and sent its earnings into negative territory.

For the third quarter, IMAX beat consensus estimates for revenue, but its earnings missed the mark. The consensus earnings per share estimate was a 31 cent loss. Wall Street predicted revenues of $31.6 million for the company.

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