Domino's is getting demolished after a huge miss on earnings
Shares of Domino's are getting crushed on Thursday after the company reported terrible earnings for its first quarter.
The pizza chain reported earnings per share of $0.89, whiffing on analyst expectations of $0.98 per share. Revenue also came in light at $539.2 million versus expectations $543.9 million.
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Sales at company owned stores missed estimates, growing just 4.0% against expectations of 5.5%. Franchised store sales were up 6.6% against estimates of 6.0%.
In response to the news, shares of the company are down just over 9% at $121.45 in pre-market trading.
More to come...