NEW YORK (TheStreet) -- Shares of Sonic (SONC) were gaining 0.8% to $37 after-hours Tuesday after the fast food chain operator beat analysts' estimates for earnings and revenue in the fiscal second quarter.

Sonic reported earnings of 13 cents a share for the fiscal second quarter, above analysts' estimates of 12 cents a share for the quarter. Revenue grew 15% year over year to $126.22 million for the quarter, above analysts' estimates of $123.36 million.

Same-store sales overall increased 11.5% in the fiscal second quarter. Same-store sales grew 11.5% at franchise drive-ins, and 11.2% at company-owns drive-ins.

"We are particularly pleased that traffic drove two-thirds of our same-store sales increase," Sonic CEO Cliff Hudson said. "This increase is primarily a result of growth in our core menu items and product innovation, complemented by our national media strategy. As we move into the second half of fiscal 2015 we expect our business momentum to continue."

TheStreet Ratings team rates SONIC CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate SONIC CORP (SONC) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."

You can view the full analysis from the report here: SONC Ratings Report

SONC data by YCharts