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Did Shake Shack beat? Now we know

The Shake Shack trade

Burger chain Shake Shack reported revenue and earnings that topped Wall Street's estimates in its first quarterly report as a public company Wednesday, but warned a key industry metric would slow.

When the company reported Wednesday after the bell, it was not immediately clear how the company's loss compared to estimates.

Shares revered earlier losses to last trade higher on Thursday. (Get the latest Shake Shack quote here.)

Following the report, JPMorgan analysts wrote "results nicely ahead of expectations, but shares remain expensive." Jefferies analysts wrote they remain on the sidelines with Shack's "valuation at an all-time restaurant record high at ~ 100x 16 EV/EBITDA."

Analysts' mean target of $37 reflects bearishness on the fast-casual chain's stock. After the dip, shares were last trading at $45.40.

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Its adjusted loss was 1 cent per share and the chain's revenue rose to $35 million from $23 million in the year-before period.

Both metrics topped estimates. Analysts forecast burger chain Shake Shack would report revenue of $33 million and a loss of 3 cents, according to a consensus estimate from Thomson Reuters.

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.

Looking ahead to 2015, the chain expects these comparable sales to moderate to the low single digits.

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

During fiscal year 2015, Shake Shack expects revenue to be in the range of $159 million to $163 million, in line with estimates.