Domino’s stock climbs 11% on earnings beat, strong pizza demand in the U.S.

Domino’s Pizza on Thursday reported that its U.S. same-store sales climbed 3.5% in its latest quarter, despite tough comparisons to its skyrocketing sales during lockdowns last year.

Shares of the company rose more than 1% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

• Earnings per share: $3.06
• Revenue: $1.03 billion vs. $972.3 million expected

The pizza chain reported fiscal second-quarter net income of $116.6 million, or $3.06 per share, down from $118.7 million, or $2.99 per share, a year earlier. Excluding items, Domino’s earned $3.12 per share.

Net sales rose 12.2% to $1.03 billion, beating expectations of $972.3 million.