AMC shares rise after Q2 earnings report

AMC Entertainment (AMC) jumped in after-hours trading after posting revenue that was in-line with estimates and better than expected losses per share for the second quarter.

CEO Adam Aron told investors in the release that "the second quarter started slowly with the box office adversely impacted by the 2023 Hollywood writers and actors strikes" but added that "the quarter finished with incredible strength powered by the success of Disney’s INSIDE OUT 2, which is now the highest grossing animated movie of all time."

Here are the key numbers:

Revenue: $1.03 billion, estimate $1.03 billion

Adjusted loss per share: $0.43, estimate $0.50

Admissions revenue: $564.4 million, estimated $586.6 million

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This post was written by Conor Hickey.

Video Transcript

Rare Friday after the Bell earnings.

Right now, shares of a MC entertainment higher by about 3.5% after posting second quarter revenue that was in line with analysts estimates adjusted losses per share coming in lower than expected at 43 cents versus the 50 cent loss that was estimated here.

So looking at the statement, Adam Airman in the CEO, saying that the second quarter did start slowly because of the writers strike in Hollywood, affecting box office.

But then he said it finished with a lot of strength inside out, too, which he, uh, highlighted here, Wolverine and he.

But he's really drawing that contrast between earlier in the quarter and later in the quarter.

Yeah, he says.

It's as if we were two totally different companies surrounded by two completely different industry Dynamics says in June, um, a MC chief, our highest ever June.

Adjust Ida in our company's entire history, you know, he's been doing a lot of financial engineering in the meantime at the firm as we know