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$AMC, the theater operator, has reported second-quarter results that exceeded expectations.

This was driven by a 12% rise in attendance and higher per-guest spending, which went well beyond pre-pandemic levels.

The company achieved a net income of $8.6 million, or 1 cent per share, a significant improvement from a loss of $121.6 million, or 12 cents per share, in the same period last year.

Excluding one-time items, AMC reached a break-even point on an adjusted per-share basis, surpassing the FactSet consensus that predicted a per-share loss of 4 cents.

The company's revenue saw a 15.6% growth, reaching $1.35 billion, surpassing the FactSet consensus of $1.29 billion.

This growth was driven by a 12.2% increase in attendance to 66.37 million, a 1.8% rise in average ticket price to $11.21, and a 9.7% climb in food and beverage revenue per patron to $7.36.

🚨BREAKING NEWS🚨$AMC Q2 revenue up 16% to $1.35 billion , beats the FactSet consensus of $1.29 billion.https://t.co/Z2oKQ5VMOS

— InvestorTurf (@InvestorTurf) August 8, 2023