Earnings

AMC posts narrower-than-expected loss, but CEO warns theater chain ‘isn’t out of the woods yet’

The AMC Burbank 16 and the Batman bronze statue in Downtown Burbank.
AaronP/Bauer-Griffin | GC Images | Getty Images

Shares of AMC Entertainment rose 4% after the company posted a narrower-than-expected loss during the second quarter.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Losses per share: 71 cents vs. 91 cents expected
  • Revenue: $444.7 million vs. $382.1 million expected

AMC posted a net loss of $344 million, or 71 cents per share, compared with a loss of $561.2 million, or $5.38 per share, a year ago. Analysts had expected the company to lose 91 cents per share, according to data from Refinitiv.

The movie theater chain reported revenue of $444.7 million, higher than the $382.1 million analysts had expected.

“AMC’s journey through this pandemic is not finished, and we are not yet out of the woods,” CEO Adam Aron said in a statement Monday. “However, while there are no guarantees as to what the future will bring in a still infection-impacted world, one can look ahead and envision a happy Hollywood ending to this story.”

This is a breaking news story. Please check back for updates.

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