AMC Q1 earnings beat revenue estimates as stock down 47% YTD

Shares of AMC Entertainment (AMC) are moving slightly after the company posted its first quarter report revealing revenue of $951.4 million, beating an expected $870.86 million, with $0.78 diluted loss per share versus an expected $0.79.

Chairman and CEO Adam Aron commented in the report that some of the numbers are due to lagging effects from the 2023 Hollywood strikes, but is confident about the lineup of new movies and success from the distribution of Taylor Swift and Beyoncé concert films.

Yahoo Finance Anchors Josh Lipton and Julie Hyman break down the latest development for AMC and what it could mean for the stock moving forward.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Nicholas Jacobino

Video transcript

Earnings.Now this time from A MC, the theater chain owner, those shares down a little bit after coming with first quarter numbers, first quarter revenue down about 3/10 of a percent year over year $951 million posting a loss in the first quarter on an even basis and on a net basis here, it had a profit at the same time a year earlier and consolidated at 10 down 2.1% in your rear to $46.6 million.The shares are down, what about 47% or so uh this year.So the shares are already down.Adam Aaron, the CEO of the company who also has been sort of its outspoken spokes, outspoken spokesperson um in terms of social media and speaking to retail investors, um sort of painting this as an out performance and talked about growing market share.But um looks like these numbers are a little disappointing.Yeah, it, it's interesting uh because you'll see financial analysts who cover the stock and they'll say they point out, you know, these guys did expand market share last year and they argue maybe they can do it again and they do.You obviously have this big network of premium screens.On the other hand, you know, you will hear those emails say balance sheet, right, the debt load here, the company saddled with and, and addressing to your point, uh heading into this, we already under a ton of pressure and slipping here in the after hours.Yeah, he is talking about being optimistic about the box office line up for the rest of the year and points out that after the success of the Taylor Swift and Beyonce um concert films that Billie Eilish is now gonna have a listening event.I mean, this week concert movie distribution.