AMC Entertainment delivered mixed results for the the third quarter, posting total revenue of $1.3 billion and a loss of per share of 53 cents. Revenue gained 8% over the prior-year period and slig…
Revenue gained 8% over the prior-year period and slightly exceeded Wall Street analysts’ consensus forecast. The net loss was wider than the expectation for 53 cents a share, however, even though it narrowed considerably from the loss of 82 cents a share reported a year ago.company said it sold a record 87.1 million tickets in the quarter, with an average ticket price of $9.45, up 3.3% to $9.45. Average food and beverage revenue per customer climbed nearly 5% to $5.35.
AMC said the results were propelled record-setting U.S. and International attendance, which rose about 4% and 9%, respectively. Stubs A-List, the company’s subscription program, booked a profit and has more than 900,000 members, AMC said. It is in the black for the full year despite a price increase phased in earlier this year.
Total U.S. box office is lagging 2018 levels by about 6% heading into the critical holiday span, which will see major releases likeIn the company’s earnings release, CEO Adam Aron said the financial results outpaced those of many rivals.
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