Restaurant Brands International Inc (NYSE:QSR) stock got a boost from strong Burger King sales for the first quarter of 2018.
During the first quarter of the year, Restaurant Brands International Inc reported revenue of $1.25 billion. This is up from its revenue of $1.00 billion that was reported in the same period of the year prior. It also beat out Wall Street’s revenue estimate of $1.15 billion for the quarter, which is good news for QSR stock.
Restaurant Brands International Inc notes that Burger King’s comparable sales for the first quarter of the year were up 3.8%. In comparison, comparable sales at Burger King were down 0.1% in the first quarter of 2017.
Burger King’s total revenue reported in the first quarter of 2018 was $389.90 million. Restaurant Brands International Inc notes that Burger King’s total revenue from the same quarter of the previous year was $267.00 million.
Restaurant Brands International Inc’s earnings report for the first quarter of the year also includes strong earnings per share of 66 cents. This is an increase over its earnings per share of 36 cents from the same time last year. It also comes in above analysts earnings per share estimate of 56 cents for the period and is a boon to QSR stock.
Net income reported by Restaurant Brands International Inc for the first quarter of 2018 was 278.60 million. The fast food company’s net income from the first quarter of the prior year was $284.70 million.
QSR stock was up 4% as of Tuesday morning, but the stock is down 14% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.