AMC's Q1 2024: Lower Revenue, Less Loss
- AMC's Q1 2024 revenue expected at $951.4 million
- Company reports narrower loss of $163.5 million
AMC Entertainment Holdings has released preliminary results for the first quarter of 2024, with an expected revenue of approximately $951.4 million. This is a slight decrease from the $954.4 million reported in the same period the previous year. Despite the impact of Hollywood writers and actors strikes from the previous year and a weaker slate of film releases, AMC's revenue has remained relatively stable.
The company also reported a narrower loss for the quarter ended March 31, 2024. The expected loss is $163.5 million, or 62 cents a share, compared to a loss of $235.5 million, or $1.71 a share, in the first quarter of 2023.
AMC's Chief Executive, Adam Aron, has indicated that the strikes will continue to affect box office returns in the second quarter. However, he anticipates improvement throughout the rest of the year. The company is set to report its full first-quarter results on May 8, 2024.