UPDATE: Wendy's Posts Q2 Profit, Lifts Dividend By 25%
Wendy's Co (NYSE: WEN) posted a profit in the second quarter.
Wendy's board also approved a 25% rise in its quarterly dividend.
Wendy's posted a quarterly profit of $12.2 million, or $0.03 per share, versus a year-ago loss of $5.5 million, or a penny per share. Excluding one-time items, its earnings came in at $0.08 per share.
Its revenue rose 0.7% to $650.5 million. However, analysts were projecting earnings of $0.08 per share on revenue of $656 million.
Wendy's shares surged 8.53% to $7.25 in pre-market trading.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.