NEW YORK (AP) — NEW YORK (AP) — Shake Shack Inc. (SHAK) on Thursday reported fourth-quarter net income of $11.8 million.
The New York-based company said it had profit of 28 cents per share. Earnings, adjusted for pretax expenses and non-recurring costs, came to 37 cents per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The burger chain posted revenue of $400.5 million in the period, which did not meet Street forecasts. Ten analysts surveyed by Zacks expected $402.4 million.
For the year, the company reported profit of $45.7 million, or $1.09 per share. Revenue was reported as $1.45 billion.
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