Sonic Corp. Shares Higher After Revenue, Earnings Beat

Sonic Corp. said Tuesday it earned $12.5 million, or 24 cents a share, in the fiscal first quarter, compared with $10.9 million, or 18 cents a share, in the year-ago period. Revenue hit $146 million in the quarter. Analysts polled by FactSet had expected the Oklahoma-based fast-food chain to report earnings of 23 cents on sales of $144.3 million in the quarter. Same-store sales rose 5.3%. The company also forecast a 16% to 20% EPS growth for fiscal 2016. Shares of Sonic rose 1.4% in late trading after ending the regular session down 0.1%.