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AMC Entertainment Stock Is Tumbling Monday: What's Going On?
AMC Entertainment Holdings Inc (NYSE:AMC) shares are trading lower Monday following the company’s second-quarter financial results. Here’s what you need to know.
What To Know: After the market close on Friday, AMC reported second-quarter revenue of $1.03 billion, in line with analyst estimates, according to Benzinga Pro. The company also reported a second-quarter adjusted loss of 43 cents per share.
Adjusted EBITDA came in at $29.4 million in the quarter. The company noted that it achieved its highest adjusted EBITDA in company history in June. AMC ended the quarter with $770.3 million in cash and cash equivalents.
"As expected, the second quarter started slowly with the box office adversely impacted by the 2023 Hollywood writers and actors strikes. ...