AMC reported fourth-quarter revenue of $1.1 billion, up from $990.9 million in 2022 and a net loss of $182 million, compared to a net loss of $287.7 million in 2022. For the full-year 2023, revenue was $4.8 billion, up from $3.9 billion in 2022, with a lower net loss. Attendance grew 4.7% to 51.9 million. AMC CEO Adam Aron said "literally all" of the revenue increase was driven by Taylor Swift and Beyoncé concert films. AMC will have more concert films in late 2024 and 2025. Shares fell 9% after the call due.
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00:00 It's Benzinga and here's what's on the block.
00:02 AMC reported fourth quarter revenue of $1.1 billion up from $990 million in 2022
00:07 in a net loss of $182 million compared to a net loss of $287.7 million in 2022.
00:13 For full year 2023, revenue was $4.8 billion up from $3.9 in 2022 with a lower net loss.
00:19 Attendance grew 4.7% to 51.9 million.
00:22 AMC CEO Adam Aaron said literally all of the revenue increase was driven by Taylor Swift
00:27 and Beyonce concert films. AMC will have more concert films in late 2024 and 2025.
00:32 Shares fell 9% after the call. For all things money visit Benzinga.com.