Wendy's Continues to Burn Cash

Wendy's/Arby's posts a loss in its first-quarter, but still beats Wall Streets' estimates.
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NEW YORK (

TheStreet

) --

Wendy's/Arby's

(WEN) - Get Report

continued to lose money in its first quarter, as sales momentum remains weak.

During the quarter, the fast-food chain lost $3.4 million, or a penny a share, compared with a loss of $10.9 million, or two cents, in the year-ago period for Wendy's .

Excluding charges, Wendy's actually earned 2 cents a share, a penny higher than estimates.

Wendy's revenue slipped 3% to $837.4 million, also better than analysts expected.

Shares of Wendy's are sinking 3.7% to $4.90 in pre-market trading.

-- Reported by Jeanine Poggi in New York.

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