AMC Theatres on Thursday reported a net loss for the fourth quarter, despite revenue that came in right at Wall Street expectations.
The exhibitor reported a loss of $13.5 million in the fourth quarter after reporting net income of $170.6 million during the same quarter a year ago. That loss equated to a per-share loss of 13 cents vs. last year’s 43 cents per-share earnings.
Analysts tracking the company via Yahoo! Finance were expecting the company to report earnings of 2 cents per share for the fourth quarter.
Revenue in the quarter was $1.45 billion, compared with $1.41 billion during the same quarter last year. Analysts were also anticipating revenue of $1.45 billion.
Also Read: Who's Winning Between Streaming and Cinema and Pay TV?
“We are very pleased to have delivered another quarter of strong results to finish 2019. Despite the U.S. industry box office declining 1.6% in the fourth quarter, AMC grew revenue 2.4%,” AMC CEO Adam Aron said in a statement.
The exhibitor reported a loss of $13.5 million in the fourth quarter after reporting net income of $170.6 million during the same quarter a year ago. That loss equated to a per-share loss of 13 cents vs. last year’s 43 cents per-share earnings.
Analysts tracking the company via Yahoo! Finance were expecting the company to report earnings of 2 cents per share for the fourth quarter.
Revenue in the quarter was $1.45 billion, compared with $1.41 billion during the same quarter last year. Analysts were also anticipating revenue of $1.45 billion.
Also Read: Who's Winning Between Streaming and Cinema and Pay TV?
“We are very pleased to have delivered another quarter of strong results to finish 2019. Despite the U.S. industry box office declining 1.6% in the fourth quarter, AMC grew revenue 2.4%,” AMC CEO Adam Aron said in a statement.
- 2/27/2020
- by Trey Williams
- The Wrap
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