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Monday, May 9, 2022

AMC Entertainment beats estimates for quarterly revenue

AMC Entertainment's (AMC) stocks rose a few hours after the quarterly results of the cinema series improved beyond expectations. These are the company's first quarter results compared to Wall Street analysts' consensus estimates.

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Adjusted (loss) per share: -.52 relative to -.62 average

Revenue: $ 785.7 million vs $ 769.88 million expected

"Our results for the first quarter of 2022 represent the first solid quarter of the AMC in two full years. -Adam Aron. on a company release quarterly.

The company has highlighted box-office hits, its NFT and crypto systems, and the $ 28 million gold miner Hycroft Mining Holdings (HYMC) stake, a move announced in March.


"Whether by developing our key skills in theater or our knowledge of balance sheet management and fundraising, we will continue to take strong and decisive action to strengthen the AMC in the future,"

It has been a difficult 2022 market, not to mention so-called "meme stocks." The Federal Reserve recently announced a 50-point increase and plans to use capacity to combat inflation. Strong monetary policy makes borrowing more expensive and financing the syphons in the system.

The high inflation rate has prompted investors to sell shares of companies with high debt levels, low or no interest rates, and expected future profits.

AMC became a trade favorite last year during the "meme stock". The company increased funding through donations as its budget value increased in 2021 due to retail investors.

Stocks dropped by more than 70% from a 52-week high of $ 72 last year. So far, AMC has dropped by almost 50%.

The stock has 3 analysts' holding recommendations and 5 trading ratings.
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