AMC Entertainment's shares jumped after the world's largest cinema chain reported its highest quarterly revenue in its 106-year history for the three months to June, boosted further by the blockbuster opening of Christopher Nolan's "The Odyssey". The results mark a significant turnaround for a company that had long been dogged by fears of bankruptcy following the pandemic and the writers' and actors' strikes, with CEO Adam Aron saying AMC has "often been underestimated".

Revenue rose 14% year-on-year to nearly $1.6 billion, while adjusted EBITDA surged 70% to a record $321 million, aided by tighter cost control; the company still posted a net loss of $11.4 million. AMC generated $190 million in free cash flow and held $778 million in cash, having refinanced $400 million of debt and raised roughly $285 million through equity offerings during the quarter, with no debt maturities now expected until 2029. "The Odyssey" opened to $264 million globally, drawing 4.3 million visitors to AMC and Odeon cinemas over its debut weekend, while overall quarterly attendance rose 13.5%; AMC shares surged more than 20% on the back of the report.