AMC Reports First-Quarter Loss With Fewer Studio Film Releases [BNN Bloomberg (Canada)]
Cinemark Holdings Inc Cinemark Holdings, Inc. (CNK)
Last cinemark holdings inc cinemark holdings, inc. earnings: 2/21 06:15 am
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Source: BNN Bloomberg
The loss in the period, excluding some items, narrowed to 78 cents a share and compared with the 79-cent loss that analysts were projecting. Revenue was little changed at $951.4 million, beating Wall Street estimates as the company gained market share from competitors. Average ticket prices rose globally, while drinks and popcorn spending per guest eased, AMC said in a statement Wednesday. The company reported preliminary first-quarter results in April. Shares of AMC were down about 1.9% to $3.13 in extended trading after the results were announced. “We had expected for some time the Hollywood actor and writer strikes of 2023 would impact the first quarter box office but were heartened by the strength of moviegoing in March, which reminded us that better times are ahead,” Chief Executive Officer Adam Aron said in the statement. Despite fewer releases from major film studios, hits including Dune: Part Two and Kung Fu Panda 4 helped AMC and rivals such as Cinemark Holdings Inc.
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- 5/2/24 - Beat
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