AMC Entertainment Reports Record Quarterly Revenue

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Admissions revenue was up 13 percent to $497 million, with the average price of a ticket rising to $9.57 from $9.33 last year.

Fueled by hit films like The Secret Life of Pets, Suicide Squad, Jason Bourne, Star Trek Beyond and Finding Dory, theater chain AMC Entertainment reported record third-quarter results in all of its segments.

The exhibition company, which ended the quarter with 5,334 screens at 386 theaters, said Monday that overall revenue rose 13 percent to $780 million and net earnings soared 150 percent to $30.4 million. On an adjusted basis, AMC earned 31 cents per share, up from 14 cents in the same quarter last year.

Food and beverage revenue was up 15 percent to $249 million, with the average moviegoer spending $4.80, up from $4.58 a year ago.

Admissions revenue was up 13 percent to $497 million, with the average price of a ticket rising to $9.57 from $9.33 last year. 

AMC is in the midst of acquiring Odeon & UCI Cinemas for about $1.2 billion in cash, stock and repayment of debt, and it also has entered into a merger agreement with Carmike Cinemas in a transaction also valued at about $1.2 billion.

At the end of the quarter, AMC had 19 dine-in theaters and its MacGuffins bar was in 158 of its theaters.

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