Shake Shack Inc (NYSE: SHAK ) reported its latest quarterly results after hours Thursday, beaating revenue estimates.
The burger chain announced fourth-quarter net income at a loss of $14.4 million, or 55 cents per share, missing the year-ago total of $3.9 million, or 15 cents per share. On an adjusted basis, Shake Shack earned 10 cents per share, topping the Wall Street consensus estimate of six cents per share, according to Thomson Reuters .
Revenue was strong during the period as well as the restaurant operator raked in $96.1 million, a 31.2% surge compared to the year-ago quarter. Analysts were calling for sales of $92.9 million, according to Thomson Reuters.
Shake Shack also surpassed analysts' same-store sales guidance as this figure rose about 0.8% during the period. Wall Street's forecast called for same-store sales to be down 1%.
The company added that its company-operator stores raked in about $85,000 a week on average during the quarter, a 5.6% fall from the $90,000 a week it brought in during the year-ago quarter.
"We delivered another year of robust global growth, opening 26 new company-operated domestic Shacks and 19 net licensed Shacks, representing a nearly 40 percent increase on our base," Randy Garutti, CEO of Shake Shack, said in a statement. "2017 marked a milestone year of digital innovation for Shake Shack, with the launch of the Shack app, self-serve kiosks at select locations and several integrated delivery pilots designed to further enhance the guest digital experience."
SHAK shares fell 2.1% after the bell Thursday.
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