Chipotle Shares Rise As Earnings Beat Wall Street's Estimates

Shares of Chipotle Mexican Grill Inc. rose in Tuesday's extended session after the gourmet burrito chain posted better-than-expected earnings, even though it fell short on revenue. Chipotle reported its second-quarter earnings rose to $66.7 million, or $2.32 a share, from $25.6 million, or 87 cents a share, a year ago. Revenue grew 17.1% to $1.17 billion while same-store sales rose 8.1%. Analysts surveyed by FactSet had forecast earnings of $2.18 a share on revenue of $1.19 billion. Chipotle shares climbed 2.4% after hours but fell 16% this month in the wake of a food safety incident at a Virginia location.