AMC Entertainment Holdings Inc. reported narrower fourth-quarter losses late Tuesday, saying that it is no longer reeling thanks to the meme-stock “war chest” it amassed in 2021.
AMC AMC, -2.86% said it lost $134.4 million, or 26 cents a share, in the quarter, compared with a loss of $946.1 million, or $6.21 a share, in the year-ago quarter. Adjusted for one-time items, AMC lost 11 cents a share.Analysts surveyed by FactSet expected the company to report a loss of 23 cents a share on sales of $1.09 billion.
“Our positive recovery glide path from the global pandemic continued in earnest in the fourth quarter,” Chief Executive Adam Aron said in a statement Tuesday. “While not yet where we want to be, our progress is substantial and unmistakable.”
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