AMC Entertainment Holdings Inc. shares tumbled 10% Thursday, after the cinema chain operator posted a wider-than-expected loss for the first quarter.
The company AMC, -9.08% had a net loss of $130.2 million, or $1.25 a share, after earnings of $17.7 million, or 14 cents a share, in the year-earlier period. Revenue fell to $1.200 billion from $1.384 billion. The FactSet consensus was for a loss per share of 55 cents and revenue of $1.194 billion.
The company is expecting the year to be back-end loaded given the slate of films due and noted that the first quarter faced a tough comparison given the success of “Black Panther” in early 2018. The U.S. box office declined by 16.2% in the first quarter, but attendance at AMC fell by 10.1%.Related: How the Disney-Netflix streaming war will create collateral damage
“We are also pleased to report that the A-List program was profitable and was accretive to adjusted Ebitda in the first quarter of 2019,” he said. “We continue to believe that by the end of the year. A-List will be $3 accretive to adjusted Ebitda on a per member per month basis.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AMC Entertainment shares fall premarket after it posts wider-than-expected Q1 lossAMC Entertainment Holdings Inc. shares slid 1% in premarket trade Thursday, after the cinema chain operator posted a wider-than-expected loss for the first...
Read more »
10 things you need to know before the opening bellThis is what traders are talking about.
Read more »
Malaysia sends ex-Goldman banker to U.S. for 10 months to face 1MDB chargesMalaysia has extradited a former Goldman Sachs banker to the United States for 1...
Read more »
10 Small Business Apps, Services And Tech Platforms Every Entrepreneur Should Know AboutThere are a few apps, services and technologies – about ten categories in all – that are critical for small businesses in 2019. Here they are.
Read more »
12-year-old charged with murder of 10 year-old younger brotherIt’s unclear how the child got the gun that was used to kill his sibling
Read more »
Inside a traditional Hopi wedding: 10 days of family, food and mud fights
Read more »
What We’ve Learned About Target-Date Funds, 10 Years LaterA decade after target-date funds were damaged during the financial crisis, they have re-emerged bigger than ever as retirement investments. But they still have vulnerabilities.
Read more »
The 10 Biggest Problems With Last Night's 'Game Of Thrones' (Other Than That Starbucks Cup)That Starbucks cup fans noticed in last night's episode of 'Game Of Thrones' was the least of its problems. Here are ten more that you should be very worried about.
Read more »
These are the 10 best big cities in America for starting a businessThree Florida cities are among the five best large cities for starting a business, according to a new WalletHub report, while New York City and Los Angeles don't even crack the top 25.
Read more »
China says Vice Premier Liu to visit U.S. on May 9-10 for trade talksChina's commerce ministry said on Tuesday Vice Premier Liu He will visit th...
Read more »