AMC Entertainment (NYSE:AMC) shares are ticking higher today after the meme-mania favorite movie exhibitor delivered better-than-expected second-quarter numbers. Revenue surged 15.6% year-over-year to $1.35 billion, outperforming expectations by $60 million. EPS at $0.01 too came in better than the Street’s anticipated net loss per share of $0.04.
During the quarter, AMC saw a 12% growth in attendance. Additionally, adjusted EBITDA at $182.5 million clocked the highest mark since the last quarter of 2019. The company also generated $7.36 in food and beverage revenue per patron during this period.
Add to this, AMC has also had a good start to the third quarter with the release of hit titles including Barbie, Oppenheimer, Sound of Freedom, and Mission Impossible: Dead Reckoning Part One. The company had a liquidity of $643 million at the end of the second quarter.
Overall, the Street has a $2.16 consensus price target on AMC alongside a Moderate Sell consensus rating. Shares of the company have gained nearly 19% over the past month.
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