Sonic Beats Estimates On The Top And Bottom Line

Sonic Corp. SONC released its third quarter earnings results on Wednesday after the closing bell. The company reported a net loss of $4.7 million or $0.08 per share compared to net income of $11 million or $0.18 per share in the year ago period. On an adjusted basis, net income was $13.1 million or $0.21 per share, versus $9.5 million or $0.15 per share, in last year's third quarter. This compared to analysts' consensus EPS estimates of $0.18. Revenues were up 4.1% to $152.1 million compared to $146 million in last year's corresponding quarter. This came in ahead of analysts' consensus revenue estimates of $150.53 million. In the after hours trading session, SONC shares have gained 4.56% to $11.00.