AMC Theaters is still not yet out of the red, but the first quarter of 2023 saw a substantial year-over-year improvement in revenue that enabled the company to cut its loss for the period by 30%.
Revenue for the three months ended March 31 improved to $954.4 million thanks to early-year hits like “M3GAN” and “Puss in Boots: The Last Wish,” as well as March hit sequels like “Creed III” and “Scream VI,” AMC Entertainment Holdings said Friday. That was up 21.5% from $785.7 million in the first quarter of 2022 and beat projections of $936.1 million compiled by Zack’s Investment Services.