The pizza chain Domino’s Pizza Inc. reported an increase in net profit and revenue in the first quarter of 2024, both of which were better than market forecasts.
According to the company’s press release, its net profit in January-March amounted to $125.8 million compared to $104.8 million in the same period a year earlier. Earnings per share increased to $3.58 from $2.93.
Meanwhile, revenue increased by 6% to $1.085 billion from $1.02 billion.
Analysts surveyed by FactSet had on average forecasted earnings of $3.40 per share on revenue of $1.08 billion.
Comparable sales of Domino’s in the United States grew by 5.6% last quarter and by 0.9% globally, according to the report.
Domino’s share prices are up 4.6% in pre-market trading on Monday. Since the beginning of the year, the company’s capitalization has increased by 21% to $17.38 billion.
