May 8 (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.