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AMC Earnings Report Shows Strong Recovery with Blockbuster Summer

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AMC earnings report confirms summer blockbuster is back, 'Barbenheimer' drives 'explosive' July for theater

Aron said AMC welcomed more than 66 million guests in the second quarter of 2023, a 12% increase and the highest number since the coronavirus pandemic. Moviegoer spending at theaters also "far exceeded pre-pandemic norms," pushing food and beverage revenue per patron to $7.36 globally, within a penny of the company's all-time high record.

The No. 1 movie in the world, "Barbie," has stunned Hollywood by earning $1.03 billion globally. Historical drama "Oppenhiemer," which opened alongside "Barbie," has earned $228.6 million worldwide and is so far the highest grossing R-rated film of the year. The success of these movies, and AMC's apparent turnaround, could signal that summer blockbusters have recovered from COVID and are back in business.

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