Sonic Shares Slip After Revenue Misses Street View
Sonic Corp. shares declined in the extended session Tuesday after the drive-in restaurant chain's quarterly revenue came in below Wall Street expectations. Sonic shares slipped 3.3% to $23.13 after hours. The company reported adjusted fiscal second-quarter earnings of 15 cents a share on revenue of $100.2 million. Analysts surveyed by FactSet had forecast earnings of 14 cents a share on revenue of $104.5 million. For the year, Sonic forecast same-store sales to decline by 2% or be flat, while analysts expect a 0.9% decline.
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