Shake Shack (SHAK) Shares Are Sizzling Hot After Beating Q1 Estimates
May 13, 2015Jeremy ParkinsonFinance
At the end of Q1, popular burger joint Shake Shack Inc (SHAK – Snapshot Report) silences its critics by beating estimates on all fronts.
Earned $0.04 per share and reported revenue of $37.8 million, compared to Wall Street’s estimates of $0.03 per share and revenue of $33.95 million.
Shack sales increased 59.2% to $36 million, and Same-Shack (or same-store) sales were up 11.7%, compared to Same-Shack sales expectations of 5.1%.
Their strong momentum continues with three new store openings this past quarter, one in Baltimore, Maryland and two in Boston, Massachusetts.
Following the report, shares of Shake Shack continue to rise after market close, currently up 3.68%.
Shares have shown a volatile tendency recently, having dropped as much as 12% in one session last week due to no news.
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