AMC Entertainment’s (NYSE:AMC) second-quarter earnings report is a big moment for the meme stock hero. To say the theater chain stock overcame adversity in the first half of 2021 is an understatement. AMC stock was rescued from debt, it won over the hearts of short-squeeze investors, and it survived a rough Q1. And now, with the Delta variant once again threatening the chain’s survival, investors want some optimistic energy going into the second half of the year. In anticipation of the call, many were celebrating #AMCEarningsDay on Twitter.

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The last month in particular was an unkind one for AMC stock.

The theater company only just recently reopened its doors, and already it could be looking at closing back down. The Delta variant is leading to a step backward in the nation’s Covid-19 recovery effort; many cities are reinstating mask mandates, and the President Joe Biden administration has made clear that if health officials advise another lockdown, it would be considered.

Q2 Earnings Lift AMC Stock

Beyond the pandemic, AMC is dealing with another new adversary in direct-to-streaming film releases. AMC theaters saw millions of customers in its theaters for the opening weekend of Marvel Studios’ Black Widow. But at the same time, Disney (NYSE:DIS) released the movie straight to its Disney+ streaming service, stealing $60 million in revenue from theaters.

Twitter users are celebrating the hotly anticipated earnings call with the hashtag #AMCEarningsDay. Many are trying to bring attention to the meme stock by getting it trending as a topic once again; meanwhile, others are making strategic requests of the company, like a share recall.

RETWEET IF YOU DEMAND AN $AMC SHARE RECALL!! #AMC #AMCEARNINGSDAY

— AMC 2 Moon (@AMC_Apee) August 9, 2021

So, with all of this buzz, how did AMC do with its Q2 earnings? Well, CEO Adam Aron said it best in the call: “in short, AMC crushed it in Q2.” Let’s take a look at estimates, and see how the real figures hold up.

#AMCEarningsDay: AMC Crushes Earnings in Q2, Looks to Accept Bitcoin

• Analysts called for a loss per share of 94 cents. The company is reporting an actual loss of just 71 cents.
• Revenue estimates called for $382.25 million. AMC posted actual revenue of $444.7 million, beating estimates by over 15%. However, that’s still well off of 2019’s Q2 revenue of $1.5 billion.
• The net loss for the second quarter stands at $344 million, compared to Q2 2020’s net loss of over $561 million.
• Cash flow for AMC in the second quarter was $251.7 million. Last quarter’s cash flow stood at $324.8 million.
• Attendance at AMC theaters in the second quarter was well over 22 million. The first quarter saw about 6.8 million customers in its theater seats. International markets saw over 4 million attendees.
• Speaking on the fears of direct-to-streaming services, Aron did not seem swayed. The CEO says that while many think streaming will kill theaters, people said the same things about VHS and DVDs. He also is bullish on the vaccine’s effects at keeping the U.S. from another lockdown, flouting both of the biggest talking points of AMC bears.
• In addition to the two previously announced Los Angeles-area theaters, the company is adding eight more theaters in major markets.
• The company is also chasing alternative content for its theaters; Aron says in addition to in-theater concert experiences, the company will be working on bringing live sports to its theaters, as well as possible gaming events alongside meme stock peer GameStop (NYSE:GME).
• Finally, the company is breaking into cryptocurrency in a massive way. The company will be accepting Bitcoin (CCC:BTC-USD) in its theaters before the end of the year.