AMC Beats Q4 Expectations Thanks to Swift and Beyoncé Films, But Cautions 2023 Outlook
- AMC beat Q4 revenue and loss expectations, boosted by Taylor Swift and Beyoncé concert films
- Revenue up 11.5% to $1.1B; net loss of $182M narrower than expected
- CEO took 25% target pay cut, 50% cut versus past year actual pay
- Attributes revenue/profit gain solely to Swift and Beyoncé films
- Stock still fell 11% after hours; CEO acknowledges 2023 “not a great year” for shareholders