WFCN –
CEO Adam Aron announced AMC Entertainment’s profits on Friday, and the company set a new record for Q2.
Visit https://investor.amctheatres.com/ to view AMC’s published financial statements for the second quarter ended June 30, 2024, as announced by the business today.
The strongest second quarter of June in AMC Entertainment Holdings Inc.’s 104-year history was reported by CEO Adam Aron.
Beyond that, by the end of the second quarter, the firm had amassed about $770 million in of cash and equivalents.
Image – Deadline
On the second quarter earnings call, Adam Aron stated, “the box office is making a comeback.”
The caller acknowledged that the company still has a long way to go, even if Q2 June was a record.
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After a year of $1,347.9 million in Q2 revenue, this year’s total dropped to $1,030.6 million.
A significant decline was also seen in adjusted EBITDA, which dropped to $29.4 million from $182.5 million in Q2 of 2015.
Continuing to back AMC theaters is one way to boost demand, according to CEO Adam Aron’s statement.
He is optimistic and confident because the corporation made $770 million in cash and equivalents.
The CEO backed up this claim by saying that AMC Entertainment’s box office statistics are rising and that they expect future titles to keep driving the company forward.
The stock price of AMC Entertainment dropped 3.5% on Friday.
Although it is down 19% so far this year, the stock had increased by more than 23% in the previous half.