- Chipotle reported earnings after the bell Wednesday.
- The chain's stock has soared 63% so far in 2019.
- The company has been focusing on driving sales through digital engagement with a new loyalty program and investments in delivery and online order pick-up.
Chipotle Mexican Grill CMG on Wednesday reported quarterly earnings and revenue that beat analysts' expectations.
After the markets closed, shares of the company initially surged 4% but were recently trading down 2%.
Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $3.40, adjusted, vs. $3.01 expected
- Revenue: $1.31 billion vs. $1.27 billion expected
- Same-store sales growth: 9.9% vs. 7.29%
Chipotle reported fiscal first-quarter net income of $88.1 million, or $3.13 per share, up from $59.4 million, or $2.13 per share a year earlier.
Excluding items, the Mexican food chain earned $3.40 per share, topping the $3.01 per share expected by analysts surveyed by Refinitiv.
Net sales rose 13.9% to $1.31 billion, beating expectations of $1.27 billion.
Watch: How Taco Bell dominates the Mexican fast-food market
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