Burger King parent earnings beat estimates as revenue climbs 15%
In this photo illustration, a Burger King Whopper hamburger is displayed on April 05, 2022 in San Anselmo, California. A federal lawsuit has been filed and is seeking class-action status alleging that fast food burger chain Burger King is misleading customers with imagery that portrays its food, including the Whopper burger, as being much larger than what is actually being served to customers.
Justin Sullivan | Getty Images
Restaurant Brands International on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations, fueled by strong same-store sales growth from Burger King’s overseas restaurants.
Shares of the company were flat in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: 64 cents adjusted vs. 63 cents expected
- Revenue: $1.45 billion vs. $1.41 billion expected
Restaurant Brands reported first-quarter net income of $270 million, or 59 cents per share, down from $271 million, or 58 cents per share, a year earlier.
Excluding items, the company earned 64 cents per share, topping the 63 cents per share expected by analysts surveyed by Refinitiv.
Net sales rose 15.2% to $1.45 billion, beating expectations of $1.41 billion.
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This article was originally published by Cnbc.com. Read the original article here.