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Shake Shack reports net loss in debut report; stock drops

Shake Shack workers prepare orders on August 18, 2014 in Madison Square Park in New York City. Shake Shack is allegedly considering going public and holding an initial price offering (IPO).
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Shake Shack workers prepare orders on August 18, 2014 in Madison Square Park in New York City. Shake Shack is allegedly considering going public and holding an initial price offering (IPO).

Burger chain Shake Shack reported revenue that topped estimates and a net loss in its first quarterly report as a public company on Wednesday.

Shares dropped following the report. (Click here to track Shake Shack stock.)

Its revenue rose to $35 million from $23 million in the year-before period.

The company reported a net loss of 5 cents per share during the quarter.

Analysts forecast burger chain Shake Shack would report revenue of $33 million, according to a consensus estimate from Thomson Reuters.

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The better-burger chain's stock has more than doubled since its IPO in January.

Same-restaurant sales rose 7.2 percent from a year ago during the quarter. Its comparable base includes the 13 restaurants open for 24 months or longer in this period. This key restaurant metrix was forecast to increase 4 percent, according to an estimate from Consensus Metrix.

During fiscal year 2015, Shake Shack expects revenue to be in the range of $159 million to $163 million and sales growth in the low single digits.