AMC expects moviegoers will return to theatres

AMC Entertainment Holdings says its business was expected to improve in the coming months as the mass rollout of COVID-19 vaccines draws moviegoers back to the cinema chain’s theaters.

A strong slate of bigbudget movies, including “Fast & Furious” film “F9” and Marvel’s “Black Widow,” in the summer is expected to fuel a rebound in box-office sales after the pandemic-driven slump in 2020.

“We finally can now say that we are looking at an increasingly favorable environment for moviegoing and for AMC as a company over the coming few months, Chief Executive Officer Adam Aron said in a statement.

However, the company’s revenue fell to $148.3 million in the quarter ended March 31, from $941.5 million a year earlier, missing a Refinitiv IBES estimate of $153.43 million.