- At the end of Q1, popular burger joint Shake Shack Inc (SHAK - Snapshot Report) silences its critics by beating estimates on all fronts.
- Earned $0.04 per share and reported revenue of $37.8 million, compared to Wall Street’s estimates of $0.03 per share and revenue of $33.95 million.
- Shack sales increased 59.2% to $36 million, and Same-Shack (or same-store) sales were up 11.7%, compared to Same-Shack sales expectations of 5.1%.
- Their strong momentum continues with three new store openings this past quarter, one in Baltimore, Maryland and two in Boston, Massachusetts.
- Following the report, shares of Shake Shack continue to rise after market close, currently up 3.68%.
- Shares have shown a volatile tendency recently, having dropped as much as 12% in one session last week due to no news.
Shake Shack (SHAK) Shares Are Sizzling Hot After Beating Q1 Estimates
Shack sales increased 59.2% to $36 million, and Same-Shack (or same-store) sales were up 11.7%, compared to Same-Shack sales expectations of 5.1%. Stock is up after hours.
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