AMC shares rise after results outpace Wall Street expectations

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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.

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