NEW YORK (AP) — NEW YORK (AP) — Shake Shack Inc. (SHAK) on Thursday reported fourth-quarter profit of $8.7 million.
The New York-based company said it had net income of 21 cents per share. Earnings, adjusted for non-recurring costs and asset impairment costs, came to 26 cents per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The burger chain posted revenue of $328.7 million in the period, which did not meet Street forecasts. Twelve analysts surveyed by Zacks expected $328.9 million.
For the year, the company reported profit of $10.2 million, or 24 cents per share. Revenue was reported as $1.25 billion.
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