AMC Entertainment Holdings, Inc. (NYSE: AMC) saw its stock soar 5.2% in the after-hours trading session on Tuesday, following the release of its fourth-quarter and full-year 2024 financial results.
The movie theater chain reported revenue of $1.306 billion for the fourth quarter, surpassing analyst estimates of $1.298 billion. This positive revenue surprise, coupled with the company's progress in reducing its debt obligations, appears to be driving the stock's after-hours rally.
During 2024, AMC reduced its debt obligations by more than $375 million and ended the year with over $630 million in available cash. This improved financial position has likely bolstered investor confidence in the company's ability to navigate the challenges faced by the movie theater industry.
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