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Chipotle Mexican Grill Inc. (Chipotle (CMG)) served up a tasty earnings surprise Wednesday after the bell, beating analyst estimates on both profit and revenue. The stock responded by ripping 6.6% higher in extended trading.
Here's what came out of the kitchen.
The burrito giant reported quarterly earnings of 33 cents per share, edging past the analyst consensus of 32 cents. Revenue came in at $3.35 billion, also beating the $3.33 billion estimate and climbing from $3.06 billion a year ago.
Other highlights from the quarter:
CEO Scott Boatwright sounded upbeat about the results. "Our positive results reflect the momentum we're building as our Recipe for Growth strategy continues to take shape," he said. "We're seeing encouraging progress because we're focused on the right growth drivers — bringing meaningful menu innovation to our guests, deepening engagement through Chipotle Rewards, elevating hospitality in every restaurant and expanding opportunities to serve more group occasions."
Investors seemed to buy the story. Chipotle stock was up 6.6% to $36.50 in Wednesday's extended trading session.
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