Why Wendy's Stock Popped Today
Shares of Wendy's (NASDAQ: WEN) were heating up today after the burger slinger posted better-than-expected earnings results in its second-quarter report. Shares were up 6.1% as of 12:06 p.m. EDT.
Wendy's turned in another solid performance for the quarter: Comparable sales rose 1.4% in North America, and systemwide sales ticked up 3.3%. Overall revenue rose 5.9% to $435.3 million, though that was short of estimates at $439.9 million. On the bottom line, investors were impressed with adjusted earnings per share rising from $0.14 to $0.18, which topped expectations by a penny, as profit growth was supported by cost controls in advertising and general and administrative expenses.
Image source: Wendy's.
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