NYSE-listed AMC Entertainment Holdings shares rose as much as 8.9% in extended trading after the company, the world’s largest cinema chain, reported better-than-expected fourth-quarter profit.
Adjusted earnings rose to US$164.8 million ($220.21 million), the company said Tuesday, beating Wall Street projections of US$128.7 million.
Sales grew to US$1.31 billion, compared with the US$1.3 billion average of six analysts’ estimates.
AMC said its theatres attracted more than 62 million fans in the fourth quarter, marking a post pandemic record for the period and a 20% gain from a year ago, CEO Adam Aron said a statement.
Shares of AMC traded as high US$3.56 in extended trading after the results were announced. They declined 2.7% to US$3.27 in regular trading.
