AMC Entertainment earnings for the first quarter of 2019 have AMC stock falling hard on Thursday.
The bad news for AMC Entertainment (NYSE:AMC) starts with its attendance in the first quarter of the year. This comes in at 79.83 million people. That’s down roughly 12% from its attendance of 90.93 million reported in the first quarter of 2018.
Breaking down attendance for the first quarter of 2019 further, numbers come in at 54.98 million for the U.S.. This is an 11% drop from the company’s attendance of 61.86 million from the first quarter of the previous year.
When it comes to international attendance the company saw 24.85 million customers in the first quarter of the year. This is a roughly 15% decrease from the company’s attendance of 29.08 million in the first quarter of the year prior.
AMC Entertainment earnings for the first quarter of 2019 also have it reporting losses per share of $1.25. This is a major drop from the company’s earnings per share of 14 cents for the same period in 2018. It was also a big hit to AMC stock by easily missing Wall Street’s losses per share estimate of 54 cents for the quarter.
The AMC Entertainment earnings report for the first quarter of the year also have it announcing revenue of $1.20 billion. This is worse off than the company’s revenue of $1.38 billion for the first quarter of the previous year. However, it does come in above analysts’ revenue estimate of $1.19 billion for the period, but couldn’t save AMC stock.
AMC stock was down 9% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.