Shake Shack: Q1 Earnings Snapshot
By AP News
Published - May 04, 2023, 07:12 AM ET
Last Updated - Jun 21, 2023, 10:57 PM EDT
NEW YORK (AP) — NEW YORK (AP) — Shake Shack Inc. (SHAK) on Thursday reported a loss of $1.5 million in its first quarter.
The New York-based company said it had a loss of 4 cents per share. Losses, adjusted for non-recurring costs, were 1 cent per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.
The burger chain posted revenue of $253.3 million in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $245.6 million.
