Shares of AMC Entertainment (NASDAQ:AMC) saw little change in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at -$0.14, which beat analysts’ consensus estimate of a loss of $0.20 per share. Sales decreased by 15.3% year-over-year, with revenue hitting $990.9 million. This beat analysts’ expectations of $977.66 million.
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AMC Entertainment reported a cash burn rate of $57.5 million for the quarter. It also reported total attendance of 49.58 million, down significantly from the previous quarter’s 53.18 million. U.S. markets featured an outright drop, as 33.75 million Americans attended this quarter versus 38.33 million in the previous quarter. International markets, meanwhile, saw a slight bump up, as 15.83 million people attended compared to 14.85 million in the previous quarter.
Overall, Wall Street has a consensus price target of $3.25 on AMC, implying 54.48% downside risk, as indicated by the graphic above.
