Shake Shack beats Street 2Q forecasts

Markets Associated Press

Shake Shack Inc. (SHAK) on Thursday reported second-quarter net income of $4.9 million.

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The New York-based company said it had profit of 19 cents per share.

Earnings, adjusted for non-recurring costs, were 20 cents per share. The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The burger chain posted revenue of $91.3 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $89.9 million.

Shake Shack expects full-year revenue in the range of $351 million to $355 million.

Shake Shack shares have fallen slightly more than 7 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $33.16, a drop of 17 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on SHAK at https://www.zacks.com/ap/SHAK