Domino's Pizza, Inc. (NYSE: DPZ) reported its financial results for the first quarter of fiscal 2018 on Thursday. With both earnings and revenue beating analysts’ estimates, shares of the company increased 7.3% in premarket trading on Thursday.
Revenue for the first quarter increased from $624.2 million for the same period last year to $785.4 million, which beat analysts’ expectations of $687.0 million. For the quarter, domestic same-store sales rose 8.3%, which was also above analysts’ estimates of 5.4% growth.
The company reported net income for the first quarter to be $88.8 million, or $2 per share, which increased from $62.5 million, or $1.26 per share, for the first quarter of last year. The results surpassed analysts’ estimates of $1.77 per share.
“The first quarter of 2018 was another outstanding performance by our franchisees and managers across the globe. We delivered in every way: from global retail sales growth through strong domestic and international same store sales comps, to new stores, and through both delivery and carryout,” J. Patrick Doyle, the President and Chief Executive Officer of the Domino's Pizza, said in the statement on Thursday.
“As my tenure as CEO comes to a close, I am extremely proud of what we have accomplished as a global system over the past several years, and I am confident the future of Domino's is in good hands. Our business model works, thanks to our committed and hard-working franchisees, our dedicated store managers and the visionary leaders who are among the best in the restaurant industry,” he continued.