AMC Entertainment Holdings Inc. reported lower losses for the fourth quarter late Tuesday, saying it was no longer rocking thanks to the “military chest” with memes it accumulated in 2021.
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said it lost $ 134.4 million, or 26 cents a share, in the quarter, compared with a loss of $ 946.1 million, or $ 6.21 a share, in the previous quarter. Adjusted for disposable items, AMC lost 11 cents a share.
Revenue jumped to $ 1.172 billion from $ 162.5 million a year ago.
Analysts polled by FactSet expected the company to report a loss of 23 cents per share on sales of 1.09 billion dollars.
The AMC said last month that it expects revenue of $ 1.172 billion and expects quarterly losses to range from $ 194.8 million to $ 114.8 million.
“Our positive recovery from the global pandemic continued seriously in the fourth quarter,” CEO Adam Aron said in a statement Tuesday. “Although it is not yet where we want to be, our progress is significant and unmistakable.”
Aron said the company had a “cash war box” provided by its shareholders last year, and that “AMC is no longer on its heels.”
AMC was one of the most notable memes of the year last year, one of the most targeted consumer names, receiving incentives from retail investors who gathered at popular social media forums.
The AMC said it ended the year with available liquidity and cash and cash equivalents of about $ 1.8 billion and $ 1.59 billion. Shares of AMC rose less than 2% in the extended session on Tuesday after the end of the regular trading day by 2.9%.