Sonic Corporation (SONC) Stock Rockets on Q2 Earnings
Sonic Corporation ( SONC ) stock was up on Wednesday following its Q2 2016 earnings report.
Sonic's revenue for Q2 2016 was $133.2 million, which is an increase over the $126.2 million reported in Q2 2015. Wall Street was expecting the company to report revenue of $127.7 million for the quarter.
Sonic said that it plans to open 50 to 60 new locations during 2016. It's also expecting same-store sales to increase by 4% to 6% and free cash flow ranging from $75 million to $80 million.
SONC shares were up 4% as of Wednesday morning.
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