’s stock perked up Thursday after the top exhibitor announced second-quarter results that exceeded Wall Street’s expectations thanks to Avengers: Endgame and other blockbusters.
Net income totaled $49.4 million, more than double the $22.2 million recorded in the year-earlier period. On a per-share basis, earnings were 17 cents, equal to the year-ago period. Wall Street analysts’ consensus was for 14 cents a share. Total revenue increased 4% to $1.5 billion, ahead of forecasts.
Shares in AMC, which slumped to a multi-year low of $8.73 in July, rallied on the earnings news. At mid-day Thursday, they were trading at $11.86, up 4.5%.
Endgame and other films released in April, May and June drove 97 million ticket sales in the quarter, a company record. The company’s AMC