Shake Shack: 3Q Earnings Snapshot
NEW YORK (AP) _ Shake Shack Inc. (SHAK) on Thursday reported a third-quarter loss of $5.6 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the New York-based company said it had a loss of 15 cents. Losses, adjusted for non-recurring costs, were 11 cents per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.
The burger chain posted revenue of $130.4 million in the period, which also beat Street forecasts. Twelve analysts surveyed by Zacks expected $126 million.
Shake Shack shares have risen 16% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $68.97, a fall of 17% in the last 12 months.