Domino's Pizza 1Q earnings jump as sales rise

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News,Business

ANN ARBOR, Mich. (AP) — Domino's Pizza Inc. said Thursday that its fiscal first-quarter net income rose 18 percent as a key sales metric improved and it opened more locations.

The Ann Arbor, Michigan-based company's adjusted profit and revenue beat analysts' expectations.

The pizza chain earned $40.5 million, or 71 cents per share, for the period ended March 23. That's up from $34.4 million, or 59 cents per share, a year earlier.

Stripping out certain items, earnings were 68 cents per share. That was a penny better than what analysts polled by FactSet predicted.

Domino's said it added 102 stores worldwide during the quarter.

Revenue increased 9 percent to $453.9 million from $417.6 million, thanks to strong results domestically and abroad. Wall Street anticipated $446.8 million in revenue.

Sales at U.S. locations open at least a year climbed 4.9 percent in the quarter. Internationally, the figure rose 7.4 percent.

This metric is a key gauge of a restaurant operator's performance because it excludes results from locations recently opened or closed.

Its shares slipped 74 cents to $73.64 on morning trading. They had been up almost 7 percent so far this year.

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