Chipotle Shares Rise As Earnings Beat Wall Street's Estimates

By Sue ChangMarketsMarketWatch Pulse

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.

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