AMC Entertainment Beats Profit Expectations, But Sales Fall Short

AMC Entertainment Holding Inc. reported Friday first-quarter earnings that rose to $28.3 million, or 29 cents a share, from $6.1 million, or 6 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to 27 cents, beating the FactSet consensus of 20 cents. Revenue increased to $766.0 million from $653.1 million, but fell shy of the FactSet consensus of $766.8 million. Admissions revenue grew to $482.6 million from $418.7 million, as the average ticket price rose to $9.42 from $9.35, but missed the FactSet consensus of $490.4 million. The stock, which was still inactive in premarket trade, has run up 18% year to date, while the S&P 500 has gained 1.6%.