AMC Sees Less-Than-Expected Revenue Growth

AMC Entertainment Holdings Inc. said it expects revenue in the September quarter to come in below Wall Street expectations, though it anticipates profit growing more than expected.

The company expects revenue between $777.0 million and $780.0 million compared with $688.8 million in the prior-year third quarter. Analysts polled by Thomson Reuters expected $785.7 million.

AMC has been trying to finalize a deal with U.S. theater chain Carmike Cinemas Inc. since March. The companies in July agreed to a sweetened deal valued at more than $800 million. Carmike shareholders are expected to vote on the transaction at a meeting on Nov. 15.

The move comes after AMC, controlled by China's Dalian Wanda Group Co., said it would acquire Europe's largest cinema chain, Odeon & UCI Cinemas Group, for £ 500 million ($650 million) as it pushes to become the world's largest movie-theater company.

AMC also said Monday it expects third-quarter profit in a range of 29 cents to 32 cents compared with 12 cents a year ago. Analysts expected 27 cents a share.

The company expects to report complete results on Nov. 7.

Shares were inactive premarket.

Write to Joshua Jamerson at [e-mail]

(END) Dow Jones Newswires

October 24, 2016 07:55 ET (11:55 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.