The soft results in an SEC filing this evening are consistent with some of the numbers we’ve seen elsewhere for the quarter — but with a lot of financial noise resulting from Wanda Group’s $2.7B acquisition of the No. 2 U.S. theater chain at the end of August. AMC says that it had $33.2M in net earnings for the quarter that ended in September, up from a $10.2M loss in the period a year ago, on revenues of $650.2M, -3.1%. But the profit figure was inflated by a $39M gain from the sale or closing of its theaters in Canada and the UK. (That covers proceeds from the sales as well as the write-off of long-term lease liabilities.) Admission revenue came in at $460M (-4.2%) as the number of tickets sold at the theaters owned at the end of the quarter fell 5.3% to nearly 49M. AMC had better luck with concessions, which generated revenues of $182.5M, (+1.9%). AMC reports that financial advisers and consultants were paid $32.3M in “success fees” for their work on the deal with Wanda.
Exhibitor AMC Says Admissions And Revenues Fell In Q3
What's Hot on Deadline
Is Melissa McCarthy The Best R-Rated Comedienne Ever? She Makes Her Case In Red Band 'The Boss' Trailer
'The Brothers Grimsby': Trailer Or Titillating Clip "Shown" On 'Jimmy Kimmel Live' – Which Works Better?
Latest Business News
- Bill Cosby Fights Again To Stop Sexual Assault Case Moving Forward
- Will Hollywood’s Flood Of Franchises Beat ‘Star Wars’-Fueled 2015 Toy Sales?
- Will Smith & Alan Horn Join Obama & Katzenberg For Private L.A. Dinner – Update
- Samantha Bee Vs. The Guys On Late Night, Plus: The Coming Tony Awards Wars? – Gerard & Roth
- Hot Berlin Titles: What Buyers Are Buzzing About At The EFM
- Obamageddon Is In Effect As POTUS Arrives In L.A. For ‘Ellen’ & Fundraisers – Update