AMC Entertainment (AMC, Financial) experienced a decrease of more than 5.2% in its stock value, closing at $4.34. The decline followed the release of its third-quarter financial results, revealing a 4.1% year-over-year drop in revenue to $1.35 billion. Despite the decrease, this figure slightly surpassed the market expectation of $1.33 billion.
The company reported a net loss of $20.7 million, translating to a loss of 6 cents per share. This contrasts with a net profit of $12.3 million, or 8 cents per share, in the same period last year. Analysts had anticipated a loss of 9 cents per share for the quarter.
During the quarter, AMC's total audience reached 65.1 million, marking an 11.5% decrease compared to the previous year.
