Shares of Shake Shack (SHAK) - Get Report were cooking in premarket trading on Friday after the iconic burger-and-fries restaurant chain reported higher revenue and sales, and raised its guidance for the remainder of the year.
Shake Shack posted net income of $3.6 million, or 9 cents a share, compared with $3.5 million, or 13 cents a share, in the comparable year-earlier period. Analysts polled by FactSet had been expecting earnings of 13 cents a share.
However, revenue jumped to $132.6 million from $99.1 million, while "same-Shack" sales gained 3.6%, the company said. The company also increased its full-year revenue guidance by $6 million, to a range of $576 million to $582 million, and boosted its expected same-store sales growth expectations to 1% to 2% from zero to 1%.
Shake Shack shares were up 1.19% at $63.64 in early trading on the New York Stock Exchange on Friday. Earlier the stock was up nearly 7%, or $4.37, to $67.28.