AMC Tops Wall Street Estimates as Movie Fans Return

(Bloomberg) -- AMC Entertainment Holdings Inc., which has soared more than 20-fold this year as a so-called meme stock, reported third-quarter results that beat analysts’ estimates, as consumers began to return to movie theaters.

• Third-quarter sales totaled $763.2 million, beating the average analyst estimate of $708.3 million, the world’s largest cinema operator said Monday. AMC posted a loss of 44 cents a share, excluding some items, better than analysts’ expectations for a 53-cent loss.

Key Insights

Market Reaction

• The shares fluctuated in extended trading, rising as much as 5.4% before turning negative. Thanks in part to its meme-stock status, the stock has risen more than 2,000% this year, closing Monday in New York at $45.06.

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