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Jack In The Box misses Street 1Q forecasts

SAN DIEGO (AP) _ Jack In The Box Inc. (JACK) on Wednesday reported fiscal first-quarter net income of $35.9 million.

On a per-share basis, the San Diego-based company said it had profit of $1.11. Earnings, adjusted for restructuring costs and to account for discontinued operations, came to $1.18 per share.

The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.

The burger chain posted revenue of $487.9 million in the period, also missing Street forecasts. Seven analysts surveyed by Zacks expected $498.5 million.

Jack In The Box expects full-year earnings in the range of $4.25 to $4.45 per share.

Jack In The Box shares have declined 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $103.60, a rise of 62 percent 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 JACK at https://www.zacks.com/ap/JACK


Keywords: Jack In The Box, Earnings Report