financetom
Business
financetom
/
Business
/
Theater chain AMC posts quarterly revenue above estimates
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Theater chain AMC posts quarterly revenue above estimates
May 8, 2024 1:53 PM

(Reuters) -AMC Entertainment ( AMC ) on Wednesday beat analysts' estimates for first-quarter revenue, as films like "Dune: Part Two", "Civil War" and "The Fall Guy" brought audiences to the world's largest theater chain.

Shares of the Leawood, Kansas-based company fell about 1% in extended trading.

The company reported a fall in quarterly revenue that was cushioned by March launches of movies such as the fourth sequel of "Kung Fu Panda" and the second installment of the star-studded science fiction epic "Dune", featuring Timothee Chalamet and Zendaya.

AMC turned to alternative content in push ticket sales as production halts due to the dual strikes of writers and actors delayed the launch of a slate of movies this year.

The company said in January that pop star Taylor Swift's "The Era's Tour" concert film had earned more than $261.6 million globally, becoming the top grossing concert film or documentary ever.

Beyoncé's Renaissance concert film too helped in the fourth quarter of last year and in the first three months of 2024.

Revenue for the first quarter stood at $951.4 million, down from $954.4 million, a year ago. Analysts expected revenue of $871 million, according to LSEG data.

AMC's net loss narrowed to $163.5 million in the quarter ended March 31, from $235.5 million, a year ago.

Attendance in theaters fell 2.1% to 46.6 million, from 47.6 million, in the same quarter of last year.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved