Shares of AMC Entertainment (NYSE: AMC) declined by 5.4% on Tuesday, following the release of the popular movie theater chain's first-quarter financial results.
AMC's revenue surged more than fivefold year over year to $785.7 million. With coronavirus-related restrictions lifted in most markets and COVID-19 case counts moderating, people are returning to AMC's locations once again.
"When Hollywood releases films that moviegoers want to see, people flock to cinemas in huge numbers to watch movies where they were designed to be seen, in theaters, on the big screen," CEO Adam Aron said in a press release.
Source Fool.com