AMC Stock Rallies After Per-Share Results, Revenue Beat Expectations As Attendance and Per-Patron Revenue Climbs

Dow Jones2023-08-08

Shares of AMC Entertainment Holdings Inc. rallied 1.4% in premarket trading Tuesday, after the movie theater operator reported second-quarter results that beat expectations, amid a 12% increase in attendance and higher per-guest spending, which “far exceeded pre-pandemic norms.”

The company swung to net income of $8.6 million, or 1 cent a share, from a loss of $121.6 million, or 12 cents a share, in the year-ago period.

Excluding nonrecurring items, AMC broke even on an adjusted per-share basis, beating the FactSet consensus for a per-share loss of 4 cents.

Revenue grew 15.6% to $1.35 billion, above the FactSet consensus of $1.29 billion, as attendance rose 12.2% to $66.37 million, average ticket increased 1.8% to $11.21 and food and beverage revenue per patron climbed 9.7% to $7.36.

The stock has dropped 13.2% over the past three months through Monday while the S&P 500 has gained 9.2%.

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Ramtin
2023-08-08
Ramtin
Anybody knows why US market is falling?

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