Shake Shack shares fell more than 14% in extended trading Monday after the company reported third-quarter earnings that beat analysts' expectations, but turned in disappointing same-store sales growth.
Shake Shack reported third-quarter earnings after the bell on Monday that beat analysts' expectations.
Shares of Shake Shack were down more than 13% in extended trading after same-store sales came in below expectations.Pedestrians walk in front of a Shake Shack location in New York.shares fell more than 14% in extended trading Monday after the company reported third-quarter earnings that beat analysts' expectations, but turned in disappointing same-store sales growth.
Revenue was in-line with expectations, but same-store sales rose 2.0%, shy of the 2.5% growth analysts predicted. Here's what the company reported compared to what Wall Street was expecting, based on a survey of analysts by Refinitiv:Revenue: $157.8 million, vs. $157.8 million expected Shake Shack said its net income rose to $11.4 million, or 31 cents a share, from $6.9 million, or 17 cents a share, a year ago.Revenue climbed 32% to $157.8 million, in-line with analysts' predictions.Ahead of earnings, Shake Shack shares had gained more than 85% since the start of the year, and had a market value of $3.1 billion.
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