Fogo De Chao Shares Edge Up On Better-than-expected Results

By Sue ChangMarketWatch Pulse

Shares of Fogo de Chao Inc. rose marginally late Tuesday after the company released its first quarterly results since going public in June. The Brazilian steakhouse said its second-quarter earnings fell to $2.5 million, or 10 cents a share, from $3.7 million, or 16 cents a share, in the year-earlier period. On an adjusted basis, Fogo de Chao earned 25 cents a share, better than analysts' estimate of 19 cents a share in a FactSet survey. Revenue fell to $68.2 million from $68.5 million. Fogo de Chao shares rose 0.4% in after hours.

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