Parent AMC Entertainment Holdings saw its shares rise on Tuesday as investors weigh current Hollywood box office trends amid streaming competition and the cinema giant’s high debt load.
In the third quarter, the theater chain, amid an industry upheaval brought about by the pandemic and the streaming era, reported total revenue of $968.4 million, up 27 percent from $763.2 million in the year earlier quarter. That just beat a Zacks Consensus Estimate for revenues at $967 million.
But AMC reported a net loss of $226.9 million, up nearly 3 percent on a net loss of $224.2 million a year ago. The loss per-share in the latest quarter was 22 cents, unchanged from the 22 cent loss per-share in the same period of 2021. Zacks Consensus Estimate predicted a loss per-share at 25 cents.
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