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Shares of AMC Entertainment Surge Nearly 10% After Spider-Man Boosts Q4 Ticket Sales

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AMC Entertainment’s shares rose after the world’s biggest cinema chain posted preliminary Q4 earnings that could confirm its aim to return to profit over the months of the year 2022.

Source: AMC

AMC up +9.71%

AMC stated revenues for the three months closing in December would likely come in north of $1.17 billion, a massive increase from the $162.5 million due to the huge success of the SpiderMan movie.

The group will likely report a net loss of between $195 million and $115 million, but that’s down sharply from $950 million in red spill over the holiday eve last year.

On an adjusted basis, AMC stated it expects to earn between $146.8 million and $151.8 million for the three months closing in December.

Operating cash generated over the three months of December 2021 was almost $216.5 million. The available liquidity for the quarter was $1,801.6 million.

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