AMC posts narrower-than-expected loss, but CEO warns theater chain is ‘not yet out of the woods’

Shares of AMC Entertainment rose 4% after the company posted a narrower-than-expected loss during the second quarter.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

• Losses per share: 71 cents vs. 91 cents expected
• Revenue: $444.7 million vs. $382.1 million expected

AMC posted a net loss of $344 million, or 71 cents per share, compared with a loss of $561.2 million, or $5.38 per share, a year ago. Analysts had expected the company to lose 91 cents per share, according to data from Refinitiv.

The movie theater chain reported revenue of $444.7 million, higher than the $382.1 million analysts had expected.

“AMC’s journey through this pandemic is not finished, and we are not yet out of the woods,” CEO Adam Aron said in a statement Monday. “However, while there are no guarantees as to what the future will bring in a still infection-impacted world, one can look ahead and envision a happy Hollywood ending to this story.”

This is a breaking news story. Please check back for updates.