Hundreds of pre-market purchases today on AMC Entertainment, a cinema operator who in this 2021 has ended up in the spotlight, becoming one of the most traded stock memes by daily traders. AMC tripled its revenue in the second quarter compared to the first three months of the year and announced the arrival of important news including the payment of cinema tickets with bitcoin.
AMC reported revenues up 19% to $ 444.7 million in the quarter ended June 30, beating consensus expectations. A strong push came from the return of viewers to cinemas after a year of closures and restrictions. Strong push from has come from films such as “F9: The Fast Saga” and “Godzilla vs Kong”. AMC CEO Adam Aron anticipated that US ticket revenue in the third quarter is on track to hit 45% in the same quarter in 2019.
“We certainly have a way to go, but the progress is clear,” Aron said in the post-results call. The AMC stock in the pre-market marks + 9.44% in the $ 37 area.
The company also announced a deal with Warner Brothers for an exclusive 45-day cinematic window before all Warner Brother films are released in 2022.