ANN ARBOR, Mich. (AP) — Domino’s Pizza said Tuesday that its profit jumped 25 percent as sales at the pizza chain rose.
The results easily beat Wall Street expectations and its shares rose before the stock market open.
The company said sales at U.S. stores open at least a year, considered an important measure of a retailer’s health, rose 13 percent in the last quarter from the year before. Domino’s, based in Ann Arbor, Michigan, has nearly 5,300 U.S. stores.
It reported net profit of $47.2 million, or 96 cents per share, in the quarter that ended Sept. 11. That compares with a net profit of $37.8 million, or 67 cents per share, in the same quarter a year ago.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.
Revenue rose 17 percent to $566.7 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $543 million.
Shares of Domino’s Pizza Inc. rose $4.26, or 2.8 percent, to $156.27 in premarket trading Tuesday. Its shares are up about 44 percent in the last 12 months.