UPDATE: Burger King Posts In-Line Q3 Earnings

Burger King Worldwide

reported in-line earnings for the third quarter. The Miami, Florida-based company posted a quarterly loss of $23.5 million, or $0.07 per share, versus a year-ago profit of $68.2 million, or $0.19 per share. Excluding items, its adjusted earnings rose to $0.27 per share, from $0.23 per share. Its revenue increased 1.4% to $278.9 million. However, analysts were projecting earnings of $0.27 per share on revenue of $281.8 million. Burger King's global same-store sales rose 2.4% in the quarter. Same-store sales gained 3.6% in the US and Canada, while same-store sales climbed 4.1% in Asia Pacific. Same-store sales in the EMEA rose 1.3%. Its total operating costs and expenses jumped to $278 million in the period. Adjusted EBITDA rose 11.9% to $194.4 million on an organic basis. Burger King Worldwide Chief Executive Officer, Daniel Schwartz said, "We built on our positive momentum in the third quarter as we delivered some of our strongest sales levels in recent years and continued growing our global footprint.” Burger King shares fell 1.30% to $31.88 at 11:00 a.m. ET.