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AMC Entertainment Rides Box Office Revival To Top Q2 Forecasts

08.08.2023 - 11:07

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Top exhibitor AMC Entertainment rode the box office 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.

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