Shares of Chipotle Mexican Grill Inc. jumped in Thursday’s extended session after the gourmet burrito chain posted better-than-expected earnings. Chipotle reported its second-quarter earnings fell to $46.9 million, or $1.68 a share, from $66.7 million, or $2.32 a share, a year earlier. On an adjusted basis, Chipotle would have earned $2.87 a share. However, revenue rose 8.3% to $1.27 billion and comparable restaurant sales grew 3.3%. Analysts surveyed by FactSet had forecast earnings of $2.81 a share on revenue of $1.26 billion. The company raised its 2018 comparable restaurant sales growth outlook to low to mid-single digits from low-single digit previously. Chipotle shares rallied 6.5% after hours.
Read on Market Watch