NEW YORK - AMC Entertainment (NYSE:AMC) Holdings, Inc. (NYSE:AMC) reported third-quarter earnings that beat analyst estimates, but revenue fell short of expectations, causing shares to drop 5.6% in after-hours trading.
The largest movie exhibition company in the world reported adjusted earnings per share of -$0.04 for the quarter ended September 30, 2024, surpassing the analyst consensus of -$0.09. However, revenue came in at $1.35 billion, slightly above the $1.33 billion analysts had expected.
Compared to the same quarter last year, AMC's revenue increased by 1.5%.
AMC continues to focus on innovation in the exhibition industry, including the deployment of power-recliner seats, enhanced food and beverage options, and the expansion of its loyalty and subscription programs.
AMC also highlighted its recent venture into film distribution with the successful releases of concert films featuring Taylor Swift and Beyoncé, indicating plans to continue this strategy with other leading musical artists in the future.
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