Revenue is exploding higher as blockbusters bring folks back to the big screen.
AMC Entertainment Group(AMC -1.83%) gained widespread popularity for its part in the meme stock frenzy of 2021. That's when a group of investors got together on social media forums, encouraging each other to buy AMC stock.
The strategy worked to boost the share price by more than 2,000% at one point before it came crashing down as the scheme unraveled.
Still, the stock remains popular, and many folks are still holding on in hopes of another surge higher.
Revenue in its most recent quarter (ended March 31) exploded to $785.7 million. That was up from $148.3 million in the same quarter last year.
Top Gun: Maverick brings folks to the movie theaters on Memorial Day weekend
AMC makes considerable revenue from ticket sales, to be sure, but even more profitable are concession sales. In the quarter ended in March, it earned $252 million on food and beverage sales with a cost of goods sold of just $42.6 million.
AMC's revenue bounced back to $2.5 billion in 2021, but that was still roughly $3 billion below levels from before the pandemic. Shareholders can undoubtedly be pleased with the company's recovery.
Should you invest $1,000 in AMC Entertainment Holdings, Inc. right now?