AMC Entertainment on Wednesday warned investors of declines in key metrics during the second quarter, sending shares down.
AMC's preliminary results revealed revenue down more than 23% during the period and a net loss, compared to a profit during the same period a year earlier.The company blamed last year's actors and writers strike for a slowdown in theatrical releases which ultimately led to"weakness" in the quarter ended June 30.revealed revenue down more than 23% during the period to $1.03 billion. It also said it expects to post a net loss of $32.8 million compared to a profit of $8.
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