(Chipotle article updated with information on shares reaching a 52-week high.)NEW YORK ( TheStreet) -- Shares of Chipotle ( CMG) surged to a 52-week high in after-hours trading on Thursday after the fast-food chain handily beat expectations and reported a 39.9% rise in earnings for the third quarter. Shares traded up more than 6% after the closing bell to crest $190 per share. For the three months ended Sept. 30, the Denver-based fast-food restaurant chain reported earnings of $48.2 million, or $1.52 per diluted share, compared with earnings of $34.5 million, or $1.08 per share, in the same period a year ago. Analysts had expected earnings of $1.31 per share according to Briefing.com. >> Restaurant Stocks: Earnings to Watch Chipotle three-month revenue vaulted 23% to $476.9 million from $387.6 million, driven primarily by the expansion of the company's store base and a 11.4% growth in comparable-store sales. During the quarter, Chipotle opened 22 new restaurants, bringing the total restaurant count to 1,023. For the nine months to date, Chipotle saw earnings vault 39.1% to $132.5 million, or $4.18 per share, compared with earnings of $95.2 million, or $95.2 million, in the same period a year ago. Chipotle nine-month revenue increased 19.7% to $1.35 billion from $1.13 billion. Chipotle anticipates opening between 135 and 145 additional restaurants next year.
Shares were rising more than 3% in after-hours trading to more than $181. Chipotle's earnings followed results from McDonald's ( MCD) this morning, in which the world's largest restaurant chain posted better-than-expected third quarter profits and sales. >> 5 Restaurant Stocks to Buy Now
McDonald's said early Thursday it grew profits by 10.3% in the recent quarter to $1.39 billion, or $1.29 per share, up from $1.26 billion, or $1.15 per share, in the year-earlier quarter. Results easily beat expectations for earnings of $1.34 billion, or $1.25 per share. -- Written by Ross Tucker in New York. >To contact the writer of this article, click here: Ross Tucker. >To follow the writer on Twitter, go to Ross Tucker. >To submit a news tip, send an email to: email@example.com.