AMC Entertainment, the top exhibitor, has surpassed Wall Street forecasts and returned to profitability in the second quarter. The company's total revenue reached $1.348 billion, marking a nearly 16% increase compared to the previous year. Additionally, AMC swung to a profit of 1 cent per share, a significant improvement from the 12 cents loss in the same quarter of 2022. Analysts had predicted revenue of $1.29 billion and a loss of 4 cents per share.
revival in the second quarter, beating Wall Street forecasts and returning to profitability.
The company posted total revenue of $1.348 billion, up almost 16% from a year ago, and swung to a profit of 1 cent a share from a loss of 12 cents in the 2022 quarter. Analysts had expected revenue of $1.29 billion and a loss of 4 cents a share. Shares in the theater owner gained 4% in pre-market trading, hitting $5.35.
While the second quarter, ending June 30, did not include the sizzling month of July and the Barbenheimer phenomenon, it did see improving fortunes for theater owners as their post-Covid comeback attempt continues. AMC said attendance in the quarter gained 12% year-on-year to hit 66.4 million. Total domestic box office
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