AMC Entertainment posted a narrower-than-expected loss during the first quarter.
"Our results for the first quarter of 2022 represent AMC's strongest first quarter in two full years," CEO Adam Aron said in a statement Monday.Not even the tag-team of Spider-Man and Batman could makeprofitable during the first quarter. Still, shares of the movie theater chain rose more than 3% after hours Monday after it posted a narrower-than-expected loss during the period.
AMC has made big strides towards recovery since the pandemic shuttered all of its locations globally in 2020, but a limited slate of new films during the first three months of the year meant fewer movie tickets were sold compared to pre-pandemic levels.kicks off a steady stream of new, and hotly anticipated, cinematic debuts that will bolster AMC's ticket sales in the coming months.
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