AMC (AMC) reported Q2 2021 earnings after the close on Monday August 9 and the numbers were strong.
Earnings per share came in at -$0.71, which was 21 cents ahead of Wall Street’s expectations.
Revenues were $444.7 million, nicely ahead of the $375.3 million consensus.
The ApesRT consensus (decided by you in our contest) was $530 million.
So were the ApesRT traders right?
Wall Street was under by $69.4 million.
And we were over by $85.3 million.
Maybe we can do better with GameStop (GME) at their next earnings report.
For now, AMC stock is rocking hard and is up 8% in the premarket.
Looking to the future, there is some wacky stuff going on.
First, AMC’s CEO said the company is willing to partner with GameStop.
WHAT? What could that look like? Will they sell video games at AMC theaters? Can we play games at AMC theaters? Will AMC Stubs include benefits for shopping at GameStop?
They’re also going to accept Bitcoin as payment for tickets and snacks by year-end.
Sounds like crazy stuff but it keeps the brand in the news. This is Elon Musk-level PR savvy.
AMC also said it can’t pay a dividend until a year from now at the earliest, and that it doesn’t intend to sell shares. They also struck a deal with Warner Brothers for a 45-day release window in 2022.
So do you still like the stock? Let us know in the comments below!