Shares of AMC Entertainment surged Monday after the theater operator surprised Wall Street with strong second-quarter earnings. Christopher Nolan's The Odyssey isn't hurting the meme stock either.
The theater operator posted adjusted earnings of 14 cents per share in the quarter ended June 30, well above Wall Street's expectations of a 4 cent loss. Revenue grew 14% to $1.59 billion, beating the analyst consensus call for $1.5 billion, according to FactSet.
Attendance increased nearly 14% in the quarter. Separately, AMC reported that more than 4.3 million moviegoers worldwide attended its theaters from Thursday through Sunday, due primarily excitement around The Odyssey.
AMC stock soared 15% to $2.24 in premarket trading on Monday, as the meme stock climbed higher on the company's strong financial performance.
IMAX also advanced 4% and Cinemark Holdings stock rose 0.3%.
CEO Adam Aron on Monday called the results "extraordinary" and the best in the company's 106-year history.
"After some admittedly tough years as our industry recovered only slowly from the ravages of COVID-19 and its aftermath, the relentless focus of AMC on delighting our guests as we execute with all cylinders blazing is reflected in our record-setting second quarter financial results," Aron said in the earnings release.
Write to Kit Norton at kit.norton@barrons.com
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July 20, 2026 07:22 ET (11:22 GMT)
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