January 29, 2023
Chicago 12, Melborne City, USA

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


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.

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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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