Krispy Kreme Shares Rise 3% On Earnings Beat

Krispy Kreme Doughnuts Inc. reported late Wednesday its fiscal first-quarter profit rose 10.5% to $10.7 million, or 16 cents a share, from $9.7 million, or 14 cents a share, a year ago. Adjusted to exclude one-time items, the doughnut and coffee shop chain earned $17.3 million, or 24 cents a share. Revenue for the three months ended May 3 rose 9% to $132.5 million from $121.6 million. Analysts surveyed by FactSet had expected the Winston-Salem, N.C.-based company to earn 22 cents a share on $135.3 million in sales. The company nudged upward its earnings outlook for fiscal 2016 to 80 cents to 85 cents a share from 79 cents to 85 cents previously. Shares of Krispy Kreme were up 3% at $17.95 on the report in after-hours trade.