Summary by Moomoo AI
AMC Entertainment Holdings, Inc. (NYSE: AMC) released its financial results for the first quarter of 2024 on May 8, 2024. The company reported a slight decrease in total revenues to $951.4 million compared to $954.4 million in Q1 2023. However, AMC saw an improvement in net loss, which was reduced to $(163.5) million from $(235.5) million in the previous year. The net loss per diluted share also improved to $(0.62) from $(1.71) in Q1 2023. Adjusted EBITDA was negative at $(31.6) million, a drop from the $7.1 million reported in Q1 2023, which included a $16.7 million benefit related to an early termination of a theatre lease. Operating cash flow was slightly better at $(188.3) million compared to $(189.9) million in the same quarter of the previous year. The company ended the quarter with $624.2 million in cash and cash equivalents...Show More
