Le cinéma

AMC Entertainment beats estimates for quarterly revenue – Reuters

The AMC theatre is pictured during the outbreak of the coronavirus disease (COVID-19), in Burbank, California, U.S., June 30, 2020. REUTERS/Mario Anzuoni

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May 9 (Reuters) – AMC Entertainment (AMC.N) beat Wall Street expectations for first-quarter revenue on Monday, as the release of big-ticket films such as “The Batman” drew crowds to movie halls, driving a surge in box-office collections at the theater chain.

After its business was hammered by the pandemic for much of last year, AMC is slowly turning a corner, as a steady stream of new releases such as “Scream” and “Uncharted” attracted 39,000 moviegoers to its theaters in the first quarter, compared with 6,797 a year earlier.

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.

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

Net loss narrowed to $337.4 million, or 65 cents per share, during the quarter, compared with $567.2 million, or $1.42 per share, a year earlier.

Shares of the company were up 4.6% in extended trading.

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

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