Shake Shack (SHAK) Stock Higher on Earnings Beat, Raised Guidance
NEW YORK (TheStreet) -- Shake Shack (SHAK) - Get Report stock is up by 3.73% to $52.90 in after-hours trading on Thursday, after the company reported 2015 third quarter financial results ahead of analysts' expectations after the market close today.
The restaurant operator posted adjusted earnings of 12 cents per share, up from 3 cents per share for the year ago period.
Revenue increased year over year, to $53.27 million from $31.83 million in the 2014 third quarter.
Same-store sales grew by 17.1% for the most recent quarter, beating last year's 1.2% growth in the third quarter.
Analysts surveyed by Thomson Reuters had expected earnings of 7 cents per share on revenue of $47.46 million.
Shake Shack raised its full-year 2015 revenue forecast to a range between $189 million and $190 million, up from the prior range between $171 million and $174 million.
"The third quarter marked another strong quarter in terms of same-Shack sales growth, as we continued to execute on our strategic plan and drive engagement with our guests," CEO Randy Garutti said in a statement. "We remain well positioned for continued success as we capitalize on our unique development opportunities."
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