AMC Entertainment Holdings Inc (NYSE:AMC) shares are trading higher Monday. The stock may be seeing increased investor attention ahead of earnings this week.
What To Know: AMC is set to report third-quarter financial results after the close on Wednesday. Analysts are anticipating a loss of 38 cents per share and quarterly revenue of $1.17 billion. AMC has beat earnings estimates in four straight quarters, according to Benzinga Pro.
Investors will be looking for an update on the “Taylor Swift: The Eras Tour” concert film, which has reportedly experienced unprecedented demand in recent weeks.
When tickets first became available in August, AMC said the concert film set a single day record for ticket sales revenue. AMC officially announced that the film crossed the $100 million mark in worldwide advance ticket sales on Oct. 4.
Last week, the film crossed the $200 million mark and CEO Adam Aron said about 10 million people had attended theaters to see the film. “Taylor Swift: The Eras Tour” has become the highest grossing concert film in history, Aron added.
Beyonce’s Renaissance World Tour is set to be released as a theatrical concert experience beginning Dec. 1.
See Also: ‘Five Nights At Freddy’s’ Movie Shakes Off The Competition, Tops Taylor Swift At Box Office
AMC Price Action: AMC shares are up about 13% over the last month, largely driven by optimism surrounding the Swift concert film. The stock was up 4.21% at $11.17 at the time of writing, according to Benzinga Pro.
Photo: Dave Dugdale from Flickr.
