Domino's Pizza Beats Q1 Expectations, Shares Surge

Shares of Domino's Pizza, Inc. DPZ jumped over 5 percent in pre-market trading after the company reported better-than-expected results for the first quarter. The Ann Arbor, Michigan-based company reported a quarterly profit of $46.3 million, or $0.81 per share, versus a year-ago profit of $40.5 million, or $0.71 per share. Its revenue climbed 10.6 percent to $502 million from $454 million. However, analysts were expecting a profit of $0.80 per share on revenue of $489.16 million. Domestic same store sales climbed 14.5 percent during the quarter, while international same-store sales climbed 7.8 percent. On April 21, 2015, the company's board of Directors declared a quarterly dividend of $0.31 per share. During the first quarter, Domino's Pizza repurchased and retired 290,877 shares of its common stock for around $29.5 million. The average estimate among 15 Estimize users was for earnings of $0.81 per share and revenue of $490.89 million. J. Patrick Doyle, Domino's President and Chief Executive Officer, said: "We had an outstanding start to 2015. Strong global sales, store growth and technology advancements all demonstrated the fundamental strength of the Domino's brand." Domino's shares gained 5.60 percent to $105.39 in pre-market trading.