(Reuters) - AMC Entertainment Holdings Inc beat Wall Street estimates for third-quarter revenue on Tuesday as a sustained boost from movies such as "Top Gun: Maverick" and new releases including "Thor: Love and Thunder" drew more footfall to cinema halls.
Shares of the Leawood, Kansas-based company rose 3.2% in extended trading.
As big movies start dominating theater screens again after a pandemic-induced lull, the world's biggest cinema chain has seen footfall at its 950 theaters more than double each quarter this year, drawing in more ticket, food and beverage sales.
A strong pull-forward from releases during the second quarter including "Elvis" and "Jurassic World Dominion" resulted in AMC seeing the highest number of guest visits at its U.S. theaters in July since December 2019, Chief Executive Adam Aron had said in August. This boosted revenue in the third quarter, which had fewer blockbuster releases.
Adjusted revenue during the quarter ended Sept. 30 was $1.01 billion. Analysts on average had expected total revenue of $961.1 million, according to Refinitiv data.
Net loss was $226.9 million, compared with $224.2 million a year earlier.