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 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.
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