AMC’s revenue plummets by more than 90 percent as theaters remain empty

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AMC Entertainment didn’t try to hide the immense financial duress the company has faced the last several months and the increasingly uncertain future that lies ahead if AMC can’t find new ways to make cash.

The company posted a revenue of $119.5 million in its third quarter, down 91 percent year over year. The same quarter last year brought in more than $1 billion. AMC noted in its earnings that it’s “operating approximately 539 of its 600 domestic locations,” as of October 2020, but cities like New York City and Los Angeles remain big obstacles. The issue is getting people into those theaters on a consistent basis without any big movies to encourage attendance. On Monday, the company also filed new documents stating it was trying to…

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