UPDATE: Domino's Q3 Profit Beats Estimates
Domino's Pizza (NYSE: DPZ) posted stronger-than-expected third-quarter results.
The Ann Arbor, Michigan-based company posted a quarterly profit of $35.6 million, or $0.63 per share, versus a year-ago profit of $30.6 million, or $0.53 per share.
Its revenue climbed 10.5% to $446.6 million. However, analysts were expecting earnings of $0.61 per share on revenue of $434.06 million.
Sales at outlets open at least a year climbed 7.7% in the US, while international same-store sales increased 7.1% in the quarter.
During the quarter, Domino's repurchased 242,700 shares of its common stock for around $17.4 million. The company's board declared a quarterly dividend of $0.25 per share.
At the end of the third quarter, Domino's had 5,002 domestic outlets and 6,119 international stores.
J. Patrick Doyle, Domino's President and Chief Executive Officer, said "Great people, food, service and technology have helped us deliver another strong quarter of global sales and profits. Our franchisees continued to drive vigorous store growth worldwide and have embraced our 'Pizza Theater' store reimage program in neighborhoods around the world.”
Domino's Pizza named Russell Weiner as President, Domino's USA and Richard Allison as President, Domino's International.
Domino's Pizza shares rose 0.37% to $76.00 in pre-market trading.
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