September 30, 2022
Chicago 12, Melborne City, USA
Finance

Shake Shack stock shaky after hours following earnings beat, light outlook

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Shake Shake Inc. shares swung between gains and losses in extended sessions on Thursday after the bottom line of fast-food restaurant chain Wall Street topped but estimates were lower than expected.

Shake Shake Shake,
-6.40%
The stock, which was down about 5% after the hour, was finally 3%, closing at $ 56.05 after falling 6.4% in the regular session.

The company posted a loss of $ 10.2 million, or 26 cents per share, net income of 1.3 million, or one penny per share, in the first quarter of the previous year. On a consistent basis, Shake Shack lost 19 cents a share, compared to a consistent earnings per share of 4 cents a year ago.

Shake Shack’s revenue rose to $ 203.4 million in the quarter from 155.3 million.

Analysts surveyed by Factset forecast a loss of 23 cents per share of revenue of .8 200.8 million, based on the company’s revenue forecast of $ 196 million to $ 201.4 million.

Shake Shack, however, estimates revenue for the second quarter at 233.8 million to $ 239.5 million, while analysts expect 242.9 million.

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