The Bad News Behind AMC's "Beat"? Attendance Is Still Half of Pre-COVID Levels
By some measures, the glass is half full. Movie theater chain AMC Entertainment Holdings (NYSE: AMC) generated revenue of $763.2 million during the three-month stretch ending in September, leaving the year-ago, pandemic-crimped top-line figure of $119.5 million in the dust. Although it still logged a loss as it continues to struggle with the lingering effect of the pandemic, the third quarter's loss of $0.44 cents per share was smaller than analysts' expectations for a loss of $0.53. Sales topped outlooks of $708.3 million as well.
On the flip side, a loss is still a loss. Wedbush analyst Michael Pachter's warning that most of this year's meme-inspired buyers will soon be cashing out of their position (sending the stock lower as a result) isn't helping matters either.
Image source: Getty Images.
Source Fool.com
