Shake Shack: 2Q Earnings Snapshot
NEW YORK (AP) _ Shake Shack Inc. (SHAK) on Monday reported second-quarter earnings of $9 million.
The New York-based company said it had net income of 29 cents per share. Earnings, adjusted for one-time items, were 27 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The burger chain posted revenue of $152.7 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $148.8 million.
Shake Shack expects full-year revenue in the range of $585 million to $590 million.
Shake Shack shares have risen 62% since the beginning of the year. In the final minutes of trading on Monday, shares hit $73.55, a climb of 31% in the last 12 months.