Fastfood chain Chipotle Mexican Grill (NYSE: CMG) Wednesday said its first-quarter revenues and earnings increased in double-digits. The bottom line also topped expectations, driving the company’s stock higher during the extended trading session.
Adjusted earnings rose to $5.36 per share from $3.08 per share in the first quarter of 2020 and came in above the consensus forecast. Net income was $127.1 million or $4.45 per share, compared to $76.4 million or $2.70 per share last year.
At $1.74 billion, revenues were up 23% from the year-ago quarter. The topline matched analysts’ forecast. Shares of the company gained Wednesday evening following the announcement, after closing the regular session lower.
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