The Louisville, KY-based pizza chain reported earnings of 62 cents per diluted share, exceeding analysts' expectations for earnings of 57 cents per share.
Revenue fell by 2% to $416.8 million year-over-year and missed Wall Street's estimates of $425.76 million.
Additionally, Papa John's said system-wide comparable sales increased 1.9% for North America and grew 5.3% internationally during the period.
"From continued improvements to our product, to digital innovations, to growing our international footprint - all while again growing EPS nearly 20% and running strong positive comp sales - this year has left us tremendously well-positioned entering 2016," CEO John Schnatter said in a statement.
The company operates and franchises pizza delivery and carryout restaurants.
Shares of Papa John's closed higher by 2.54% to $54.44 on Tuesday.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
This is driven by multiple strengths, which should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks covered.
The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, notable return on equity and good cash flow from operations.
The team feels its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: PZZA