AMC Entertainment shares jumped about 14% on Monday. The cinema chain had just reported the highest quarterly revenue and profit measures in its 106-year history. Chief executive Adam Aron pointed to a run of upcoming blockbusters as the reason he expects that momentum to hold: Christopher Nolan's The Odyssey, Dune: Part Three, and Avengers: Doomsday.
The stock is surging because the numbers were genuinely strong. Second-quarter revenue rose about 14% from a year earlier to roughly $1.6B, while adjusted earnings, a measure the company watches closely, climbed 70% to a record $321.4M. It was the first time AMC had passed $300M on that measure in a single quarter.
