AMC reported a loss for a 14th consecutive quarter and fourth consecutive year Tuesday, but shares still gained in after-hours trading.
AMC Entertainment Holdings Inc. reported a loss for a 14th consecutive quarter and fourth consecutive year Tuesday, but shares still gained in after-hours trading as the theater chain’s performance topped Wall Street’s reduced targets.
AMC reported sales of $990.9 million, compared with $1.18 billion in the same period last year. Analysts surveyed by FactSet were looking for sales of $978 million and a net loss of 19 cents a share on an adjusted basis, after reducing those targets repeatedly — revenue was expected to be $1.11 billion as of the end of January, and more than $1.3 billion as recently as last August. For the full year, AMC recorded a loss of $973.6 million, or 93 cents a share, on sales of $3.91 billion.
“With more major movies coming in 2023, we are highly confident that our multiyear recovery will continue to show considerable progress this year,” Chief Executive Adam Aron said in a statement. “But we cannot stress enough how crucial it is that for AMC to remain viable, we must continue to be agile and nimble not only in running our business day to day, but also in our continued raising of cash and decreasing the debt load on AMC Entertainment.
Related: AMC highlights strong opening weekend for ‘Avatar: The Way of Water’, raises $162 mln through APEs This month, AMC announced that it has repurchased $365 million of debt since the beginning of 2022 and rolled out movie-ticket pricing determined by seat location.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Farrah Abraham Defends Daughter's Piercings for 14th BirthdayFarrah Abraham is defending her 14-year-old daughter's lip piercings.
Leer más »
AMC stock soars more than 13% a day before quarterly resultsShares of AMC Entertainment Inc. surged 13.6% toward a 12-week high in afternoon trading Monday, a day before the movie theater operator is scheduled to...
Leer más »
AMC’s stock jumps more than 20% on eve of earningsAMC Entertainment Holdings Inc.’s stock jumped more than 21% Monday on the eve of the meme-stock darling’s fourth-quarter earnings.
Leer más »
AMC shares up as judge sets April hearing in shareholder caseAMC Entertainment Holdings Inc will face an April 27 hearing in a lawsuit claiming it circumvented shareholders who were against adding more shares, a Delaware chancery court judge ruled on Monday.
Leer más »
AMC surges 23% on potential delay to plan that could dilute sharesMovie theatre operator AMC's stock surged 23% after a potential legal delay to a plan that could dilute its shares
Leer más »
AMC Theatres, Walmart Partner on Retail Popcorn BusinessThe world's largest movie theater circuit will begin selling its microwave and ready-to-eat movie popcorn varieties in select U.S. stores next month.
Leer más »