AMC Entertainment Holdings saw third-quarter revenue fall and head towards a net loss Deadpool and Wolverine And Inside Out 2 is played on the screens.

Wednesday, parent AMC Theaters It reported total revenue of $1.34 billion, down 4.1 percent from $1.4 billion the previous year, due to increased cinema attendance. Oppenheimer And Barbie in their own theatres. Total admission revenue decreased to $744.2 million compared to $798 million the previous year, but this was offset by food and beverage revenues rising to $490.4 million compared to $482.7 million the previous year.

The following products were also launched in the participant’s third quarter in 2023: Taylor Swift: Eras Tour through AMC Theaters Distribution division. The giant cinema chain’s net loss was $20.7 million, compared to a profit of $12.3 million the previous year. Diluted loss per share was 6 cents versus earnings per share of 8 cents a year ago.

AMC Theaters’ latest results show how the company’s domestic and European locations are faring amid a broader industry recovery in Hollywood counter We are leaving the pandemic period.

“Admittedly, some of our metrics for the third quarter of 2024 were behind last year. But we
We believe our bullishness on the impressive slate of films coming to our theaters in November and December 2024 and continuing in 2025 and 2026 is of even greater importance. AMC Theaters CEO Adam Aron said in a statement that office space will rise significantly at the end of the year and will rise again over the next two years.

A week ago, rival Cinemark, the third-largest U.S. movie theater chain by number of locations, reported third-quarter revenue of $921.8 million, up 5.4 percent from the same period a year ago. Also on Wednesday, Canadian exhibition giant Cineplex reported third-quarter revenue of $395.6 million; this was $463.5 million, down 4.6 percent from the same period the previous year.

AMC has also pursued the rights to show other live concerts and sporting events on its big screens as the mega-cinema chain looks to diversify into alternative content in line with a broader exhibition industry moving away from reliance on traditional Hollywood tentpoles.

AMC Theaters saw more than 65 million viewers move into theaters in its latest quarter, down 11.5 percent from 73.5 million in the same period in 2023. About 46.9 million viewers attended AMC’s U.S. theaters, up from 51.5 million a year ago. International theaters hosted 18.1 million viewers in the third quarter; This number decreased compared to 22 million in the same period in 2023.

The movie theater chain’s shares have risen and fallen significantly since 2021 as retail traders, spurred on by Reddit, adopted the company’s stock as a meme stock. Online traders who bought AMC shares pushed its value to $35 at one point in 2021.

This meme stock craze allowed the company to raise fresh cash through stock sales for its financial lifeline. On Wednesday, shares of AMC Theaters fell 24 cents, or just over 5 percent, to $4.34 in after-hours trading following the release of third-quarter financial results.