Cyberattacks against accounting software firm Wolters Kluwer and the City of Baltimore in May showed how the newest wave of malicious hacking can have significant, often...Technologyread more
The European parliamentary election is the second largest democratic exercise in the world.Europe Newsread more
Biden had criticized Kim Jong Un as a "dictator" and a "tyrant" at a recent rally in Philadelphia. North Korean state media responded by calling Biden a "fool of low IQ" among...Politicsread more
Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
Chipotle Mexican Grill's stock soared Tuesday after the fast-food chain easily beat Wall Street expectations for net income and revenue.
The stock was was more than 10 percent in premarket trading. (Click here for the latest price.)
After the closing bell Monday, the company reported net income had risen $110.3 million, or $3.50 per share, compared with $87.9 million, or $2.82 a share a year earlier.
Revenue increased to $1.05 billion from $817 million a year ago.
Analysts were expecting Chipotle Mexican Grill to deliver earnings of $3.09 a share on $990 million in revenue, according to a consensus estimate from Thomson Reuters. Chipotle's earnings were 21 cents higher than even the most optimistic of 28 Wall Street earnings estimates compiled by Thomson Reuters.
Comparable restaurant sales increased 17.3 percent, smashing Consensus Metrix estimates that called for 10.5 percent.
This year, Chipotle has battled high food inflation as prices for beef, cheese and avocados soared. As a result, the company began raising prices by roughly midsingle digits during the second quarter. This marked the company's first nationwide price increase in three years. The company's big beat shows the resiliency of demand for Chipotle's burrito in a restaurant industry that's struggled to maintain traffic.
The company noted its comparable sales beat resulted by increased traffic and, to a lesser extent, an increase in average check.
Despite the price hikes, restaurant level operating margin held roughly steady.
—By CNBC's Katie Little