Salem Radio Network News Saturday, May 28, 2022

Business

AMC Entertainment beats estimates for quarterly revenue

(Reuters) – AMC Entertainment beat Wall Street expectations for first-quarter revenue on Monday, as the release of blockbuster films such as “The Batman” and “Uncharted” drew crowds to movie halls, driving a surge in ticket sales.

Revenue at the company, which became one of the symbols of a meme stock-trading frenzy last year, rose to $785.7 million in the quarter ended March 31, from $148.3 million, a year earlier.

Analysts on average had expected revenue of $743.4 million, according to IBES data from Refinitiv.

(Reporting by Eva Mathews in Bengaluru; Editing by Anil D’Silva)

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