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Chipotle restaurant sales jump; stock rises

An employee carries bags of tortilla chips at a Chipotle Mexican Grill Inc. restaurant in Hollywood, California, July 16, 2013.
Patrick T. Fallon | Bloomberg | Getty Images
An employee carries bags of tortilla chips at a Chipotle Mexican Grill Inc. restaurant in Hollywood, California, July 16, 2013.

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.

(Click here to get the latest quotes for Chipotle.)

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.

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