NEWPORT BEACH, Calif. (AP) _ Chipotle Mexican Grill Inc. (CMG) on Wednesday reported first-quarter earnings of $88.1 million.
On a per-share basis, the Newport Beach, California-based company said it had net income of $3.13. Earnings, adjusted for one-time gains and costs, came to $3.40 per share.
The results beat Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $3.01 per share.
The Mexican food chain posted revenue of $1.31 billion in the period, also beating Street forecasts. Eleven analysts surveyed by Zacks expected $1.27 billion.
Chipotle shares have increased 64 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 17 percent. In the final minutes of trading on Wednesday, shares hit $709.77, more than doubling in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CMG at https://www.zacks.com/ap/CMG