Here's How Good AMC's First Quarter Was ... or Wasn't
Batman may be a superhero, but the movie The Batman wasn't able to save AMC Entertainment's (NYSE: AMC) first quarter. The movie theater chain's top line for the three-month stretch ending in March fell -- a lot -- from the fourth quarter's sales surge stemming from the release of Spider-Man: No Way Home. The setback calls the entire big-screen film industry's post-pandemic rebound into question.
A couple of simple charts put the matter in perspective.
For a short while after Monday's close, the company's stock was soaring. AMC Entertainment topped revenue estimates of $743.4 million for the quarter in question by reporting sales of $785.7 million, up more than 400% year over year. And while still in the red, the loss of $0.52 per share topped estimates for a loss of $0.63 and improved on the year-earlier loss of $1.42 per share. Investors were clearly given something to celebrate.
Source Fool.com
