Why AMC Entertainment Is Falling Today
Shares of AMC Entertainment (NYSE: AMC) are heading 2.6% lower at 12:11 p.m. ET on Tuesday on no news specific to the movie theater operator, although it's preparing to release its first-quarter earnings report next Monday.
Wall Street is expecting AMC to report a loss of $0.63 per share this quarter on revenue of $736 million, well ahead of last year's loss of $1.42 per share on $148 million in revenue, but still substantially below its 2019 totals.
With only a few movies that made a mark in the quarter, AMC's results are likely to be stellar in comparison to last year, but not enough to indicate business is healthy. According to Box Office Mojo, cumulative box office receipts totaled about $1.3 billion for the first quarter of 2022, up 460% year over year, but still well below 2020.
Source Fool.com
