NEWPORT BEACH, Calif. (AP) — NEWPORT BEACH, Calif. (AP) — Chipotle Mexican Grill Inc. (CMG) on Tuesday reported third-quarter profit of $387.4 million.
On a per-share basis, the Newport Beach, California-based company said it had profit of 28 cents. Earnings, adjusted for non-recurring gains, were 27 cents per share.
The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The Mexican food chain posted revenue of $2.79 billion in the period, which fell short of Street forecasts. Twelve analysts surveyed by Zacks expected $2.82 billion.
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