AMC Posts Huge Loss in Latest Quarter

AMC has posted a sharp 90.9% drop in revenue in its fiscal third quarter as the theater chain continues to reckon with the fallout the COVID-19 pandemic has had on the movie industry.

In its latest financial earnings call, AMC Theaters revealed $119.5 million in revenue, down year over year from 2019 when the theater chain reported revenues of over $1 billion. AMC is now trying to raise funds to avoid bankruptcy by trying to sell shares to try and raise around $50 million.

AMC is…