: AMC stock rallies after per-share results, revenue beat expectations as attendance and per-patron revenue climbs

Shares of AMC Entertainment Holdings Inc. AMC rallied 2.7% in premarket trading Tuesday, after the movie theater operator reported second-quarter results that beat expectations, amid a 12% increase in attendance and higher per-guest spending, which “far exceeded pre-pandemic norms.” The company swung to net income of $8.6 million, or 1 cent a share, from a loss of $121.6 million, or 12 cents a share, in the year-ago period. Excluding nonrecurring items, AMC broke even on an adjusted per-share basis, beating the FactSet consensus for a per-share loss of 4 cents. Revenue grew 15.6% to $1.35 billion, above the FactSet consensus of $1.29 billion, as attendance rose 12.2% to $66.37 million, average ticket increased 1.8% to $11.21 and food and beverage revenue per patron climbed 9.7% to $7.36. The stock has dropped 13.2% over the past three months through Monday while the S&P 500 SPX has gained 9.2%.

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