Domino’s Pizza Sizzles Midday After Earnings Beat
Investing.com - Domino’s Pizza rose in midday trade Wednesday after the restaurant chain posted better-than-expected earnings.
The company's aggressive expansion strategies look to be paying off as it reported earnings per share of $2.20, well ahead of forecasts for $2.09. Revenue came in at $836 million, below estimates of $849.4 million.
The company reported U.S. same-store sales growth of 3.9%, a bit shy of some Wall Street forecasts. International same-store sales rose 1.8% compared to 5% a year ago.
Domino’s Pizza (NYSE:DPZ) was up 9.5%, while rival Papa John's (NASDAQ:PZZA) surged 3% and Grubhub (NYSE:GRUB) gained 2.5%.
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