Shares of Domino's plummeted more than 6 percent in premarket trading Tuesday after the company posted better-than-expected third-quarter earnings, but fell short of revenue expectations.
The pizza chain posted earnings of $1.95 per share on $786 million in revenue. Wall Street had expected earnings of $1.75 per share on $788.1 million in revenue, according to Refinitiv estimates.
Same-store sales during the quarter were up 6.3 percent. Domino's has had a long streak of growing same-store sales, a key metric for restaurants, in the U.S., with 30 straight quarters of positive results. The last time the company posted negative same-store sales was in the first quarter of 2011.
"I continue to be proud of our great franchisees and operators around the world," Ritch Allison, Domino's CEO, said in a statement Tuesday. "In particular, our U.S. business once again executed at extremely high levels in the third quarter. Our global business, driven by strong retail sales growth and franchisee economics that outperformed the industry, continued its strong momentum."
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