(AMC) AMC Entertainment Holdings reported total revenue of $1.172 billion in the fourth quarter of 2021, up from $162.5 million in the prior year.
For FY21, AMC revenues were $2.53 billion, an increase from $1242 billion in the prior year.
AMC narrowed its loss in the fourth quarter to $134.4 million, from a loss of $946.1 million in the comparable quarter of 2020. Net loss in FY21 narrowed to $1.27 billion, up from a loss of $4.59 billion in the previous year.
The adjusted EBITDA was reported at $159.2 million in the fourth quarter, up from a loss of $327.5 million in the prior year.
AMC CEO Adam Aron lauded the robust results in the fourth quarter, saying that he is bullish for FY22 as moviegoers return to the theaters after the pandemic-induced slowdowns.
The company said that as of December 31, 2021, it had opened and was operating 593 theaters in the domestic market and 337 overseas, 100% and 95%, respectively.
AMC: NYSE is down -0.60% on premarket.
