Shake Shack: 2Q Earnings Snapshot
NEW YORK (AP) _ Shake Shack Inc. (SHAK) on Thursday reported second-quarter net income of $7.6 million.
On a per-share basis, the New York-based company said it had net income of 26 cents. Earnings, adjusted for non-recurring costs, were 29 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The burger chain posted revenue of $116.3 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $110.2 million.
Shake Shack expects full-year revenue in the range of $446 million to $450 million.
Shake Shack shares have risen 48 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $63.94, an increase of 91 percent in the last 12 months.