Domino's shares jump after beating first quarter earnings expectations

 
Oliver Gill
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Domino's chief executive J. Patrick Doyle called the results "a great start to 2017" (Source: Getty)

Domino's served investors with a slice of good news by posting better-than-expected first quarter revenue and profits.

The pizza giant said revenues rose 14.1 per cent as compared with a 12 per cent rise expected by analysts polled by Consensus Metrix.

Shares in the firm leapt 2.5 per cent in trading. Domino's president and chief executive J. Patrick Doyle said:

It was a great start to 2017, as momentum continued with solid growth in our international business, and our third consecutive quarter of double-digit same store sales growth in the US.

The use of technology was pivotal in Domino's, the US' largest pizza delivery chain, staying ahead of the pack. App use on smartphones and digital wallets were particularly effective, Domino's said.

Read more: Domino's shares get sliced as sales for 2017 dip and rivals make more dough

Total revenue rose 15.8 percent to $624.2m (£483.9m) and this compared with expectation by analysts polled by Thomson Reuters of $615.8m.

Revenue generated from supplying franchises rose 15.7 percent to $388.6m and net income rose 89 per cent to $62.5m.

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