NEWPORT BEACH, Calif. (AP) — NEWPORT BEACH, Calif. (AP) — Chipotle Mexican Grill Inc. (CMG) on Wednesday reported second-quarter net income of $403.5 million.
On a per-share basis, the Newport Beach, California-based company said it had net income of 32 cents. Earnings, adjusted for one-time gains and costs, were 33 cents per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The Mexican food chain posted revenue of $3.35 billion in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $3.32 billion.
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