For investors in AMC Entertainment, things got exciting after-hours when the globally operating cinema chain released its quarterly figures. In the past quarter, AMC posted a loss of 0.1 USD per share. In comparison, the company had recorded a loss of 0.05 USD per share in the same quarter last year. However, analysts had expected a significantly higher loss of 0.43 USD per share.
The company's revenue dropped to $1.03 billion, down from $1.35 billion in the same quarter of the previous year. This met exactly the expectations of analysts, who had also anticipated revenue of $1.03 billion.
Despite the drop in revenue and the reported loss, AMC shares reacted positively in after-hours trading, temporarily rising by 3.44% to $5.11. This price movement suggests that investors were surprised by the better-than-expected profit forecast.
AMC Entertainment, which operates cinemas worldwide, continues to struggle with the effects of the pandemic and changing consumer habits. The challenge is to promote the return of viewers to theaters while simultaneously tapping into new revenue streams.
