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AMC Entertainment shares rise after reporting all-time high U.S. Easter weekend revenue
© Reuters AMC Entertainment (AMC) shares rise after reporting all-time high US Easter weekend revenue
By Sam Boughedda
AMC Entertainment (NYSE:) announced that it enjoyed its busiest weekend so far in 2023, providing its struggling share price with a boost on Monday.
The stock, which is down over 57% in the last 12 months, has climbed more than 8%, hitting a high of $5.35 per share.
AMC revealed that more than 3.6 million guests attended a movie at one of its locations in the US from Friday to Sunday, giving it its third busiest weekend since December 2019.
“Since reopening in 2020, two of AMC’s top three revenue days occurred this past weekend, including Saturday, which was AMC’s highest revenue day in the United States since theatres reopened,” the company said in a press release.
The attendance boost was driven by a slate of titles, such as the opening weekend of THE SUPER MARIO BROS. MOVIE, New release AIR, as well as strong holdovers from DUNGEONS AND DRAGONS: HONOR AMONG THIEVES and JOHN WICK: CHAPTER 4.
AMC added that the combination of admissions and food & beverage revenue set an all-time high for revenue during an Easter weekend at AMC in the US.
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