Why Meme Stock AMC Entertainment (AMC) Is Trading Higher Premarket Friday – AMC Enter Hldgs (NYSE:AMC)


  • AMC Entertainment Holdings, Inc AMC reported first-quarter FY23 revenue growth of 21.5% year-on-year to $954.4 million, beating the consensus of $941.9 million.

  • Overall attendance improved by 21.9% Y/Y to 47.6 million. U.S. markets attendance increased by 25.5% Y/Y to 32.4 million. International markets attendance grew by 15% Y/Y to 15.3 million.

  • Average screens fell 1% year-on-year to 9,998 from 10,099.

  • Adjusted EPS loss of $(0.13) beat the consensus loss of $(0.16).

  • Adjusted EBITDA improved by $68.8 million to $7.1 million.

  • AMC used $(189.9) million in operating cash flow, down from $(295.0) million a year ago. AMC held $495.6 million in cash and equivalents.

  • The adjusted net loss was $(179.7) million compared to an adjusted net loss of $(266.3) million. 

  • Adam Aron, Chairman and CEO of AMC, said, “AMC theatres across the globe welcomed nearly 48 million guests in the first quarter thanks to the continued strength of James Cameron’s AVATAR: THE WAY OF WATER and the knockout power of first quarter releases like Marvel’s ANT-MAN AND THE WASP: QUANTUMANIA, CREED III, SCREAM VI, SHAZAM! FURY OF THE GODS and JOHN WICK CHAPTER 4.”

  • Price Action: AMC shares traded higher by 4.22% at $6.17 premarket on the last check Friday.

  • Photo via Wikimedia Commons




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