(Boursier.com) — AMC Entertainment is gaining pre-market traction after the movie theater operator reported better-than-expected quarterly revenue and a reduced net loss on the back of the success of big-budget movies like “The Batman.” Over the first three months of the year, the firm suffered an adjusted loss per share of 52 cents for revenues of $758.7 million. Data above analysts’ expectations.
“Our results for the first quarter of 2022 represent AMC’s best first quarter in two full years. We continue our post-pandemic recovery trajectory, in addition to quintupling revenue and improving adjusted EBITDA by nearly 80% versus to a year ago,” AMC CEO Adam Aron said.
Ticket sales have increased more than fivefold from the previous year, when cinemas were still mostly closed due to the coronavirus pandemic. However, they are still far from the levels that prevailed before the pandemic: regularly more than a billion dollars in the first three months of the year.
While it will probably take years for box office receipts to return to pre-health crisis levels, the release of several blockbusters over the summer (“Top Gun: Maverick”, “Jurassic World Dominion “…) could help movie theater chains get back on their feet faster.
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