AMC shares surge as movie theater chain narrows losses

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Shares of AMC Entertainment

rose 8% in early trading Monday after the movie theater chain reported stronger-than-expected second-quarter results.

The company posted revenue of nearly $1.4 million, up about 35% year over year and topping the $1.35 billion Wall Street estimate, according to LSEG.

AMC reported a net loss of $4.7 million, or just 1 cent per share, notably narrower than the loss of $32.8 million, or 10 cents per share, the company reported in the second quarter of 2024.