The AMC 25 Theatres in Times Square in New York is seen on Tuesday, July 8, 2014.
Richard Levine | Corbis News | Getty Images
Shares of AMC Entertainment rose more than 3% after hours Monday after the company posted a narrower-than-expected loss during the first quarter.
The movie theater chain reported a net loss of $337.4 million, or 65 cents a share, compared to a loss of $567.2 million, or $1.42 per share, a year ago.
Excluding items, the company lost 52 cents per share, a narrower loss than the 63 cents analysts had expected the company to lose during the quarter, according to a survey from Refinitiv.
Revenue rose to $785.7 million from $148.3 million last year, and topped the $743 million analysts had expected.
“Our results for the first quarter of 2022 represent AMC’s strongest first quarter in two full years,” CEO Adam Aron said in a statement Monday.
AMC ended the quarter with $1.3 billion in available liquidity.
This is a breaking news story. Please check back for updates.
If you want to know more about business please go to https://updatednews24.com/category/business/