Chipotle restaurant sales jump; stock rises
Chipotle reported revenue that beat analysts' expectations on Thursday and a swift increase in comparable sales despite colder weather.
After the earnings announcement, the company's shares surged 10 percent in extended-hours trading.
Net income rose to $79.6 million, or $2.53 per share, compared to $61.4 million, or $1.95 per share in the year-earlier period.
Revenue jumped 20.7 percent to $844 million from $699 million a year ago.
Analysts had expected the company to report earnings excluding items of $2.53 a share on $826 million in revenue, according to a consensus estimate from Thomson Reuters.
During the quarter, comparable restaurant sales increased 9.3 percent. This high-single digit jumps comes in an industry where some competitors, including McDonald's, have experienced sluggish sales.