Panera Bakery Shares Rise On Earnings Beat

Panera Bread Co. shares rose in the extended session Tuesday after the bakery and restaurant chain topped Wall Street expectations for the quarter. Panera shares advanced 4% to $215.83 after hours. The company reported adjusted second-quarter earnings of $1.78 a share on revenue of $698.9 million. Analysts surveyed by FactSet had forecast earnings of $1.74 a share on revenue of $696.2 million. For the year, Panera expects adjusted earnings of $6.60 to $6.70 a share, while analysts are looking for $6.88 a share.