Tuesday, December 6, 2022

AMC Entertainment reports another quarterly loss despite higher revenue

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  • AMC’s revenue increased 27% to $968.4 million as the movie theater chain saw its admissions revenue and food and beverage spending increase.
  • The company’s net loss widened slightly to $226.9 million, or 22 cents per share.
  • AMC said it sold 14.9 million of its preferred shares, called “APE,” as of Tuesday.

The company came back from the brink of bankruptcy in 2021 thanks to millions of retail investors who turned its shares into a meme stock. Since then, AMC has devised several plans to raise more capital to pay down its debts and invest in acquisitions, theater upgrades, a popcorn business and even a gold mine.

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Disclaimer: This story is generated from RSS Feed and has not been created or edited by Waba News. Publisher: CNBC

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