June 9, 2020 / 8:39 PM / 25 days ago

AMC misses revenue estimates as COVID-19 shutters movie theaters

June 9 (Reuters) - AMC Entertainment Holdings Inc reported its first-quarter revenue below Wall Street estimates on Tuesday, as the company reels under the closure of its movie theaters due to coronavirus-led lockdowns.

The company said it expects to fully reopen its theaters globally in July, including in its two largest markets, the United States and UK.

Total revenue for the world’s largest movie theater operator fell 21.6% to $941.5 million, compared with analysts’ average estimate of $951.4 million, according to IBES data from Refinitiv. (Reporting by Ayanti Bera in Bengaluru; Editing by Shinjini Ganguli)

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