AMC Entertainment (AMC) shares fell on Thursday after the movie theater chain posted mixed quarterly results. While AMC beat revenue estimates, it reported a larger-than-expected loss of $0.83 per share.
In contrast, shares of language learning app Duolingo (DUOL) surged following better-than-expected fourth-quarter results driven by user growth. Duolingo's daily users rose 69% year-over-year.
Meanwhile, Papa John's (PZZA) stock climbed after the pizza chain beat earnings estimates. Papa John's posted rising comparable sales in North America.
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Editor's note: This article was written by Angel Smith
Video Transcript
BRAD SMITH: Stocks trading higher after the latest read on inflation. PCE came in line with the Street's expectations. The annual gauge falling to the lowest level since March of 2021. And shares of AMC also in focus this morning, falling after the company posted a higher-than-expected loss of $0.83 a share.
The company did beat revenue estimates though, helped in part by the distribution of concert movies, including Taylor Swift, The Eras Tour and "Renaissance, A Film by Beyoncé." Plus, Duolingo shares are in rally mode after the company posted a record quarter thanks to more bookings, revenue, and profitability. Duolingo said its daily active users rose by 65% year-over-year to nearly 27 million people.
And finally, better ingredients, better earnings. Papa John's shares getting a nice boost today. The company reporting record system-wide sales. North America comparable sales were also up 2%. The company has been focused on growing its North America business. We should, however, note that the international comparable sales were down by 6%
