Jack in the Box Inc. (NASDAQ: JACK) shares jumps more than 14 percent in the early trading after the company reported better-than-expected results in the fiscal second quarter, boosted by Qdoba Chain.
The San Diego-based company posted adjusted profit of $28.7 million, or 85 cents a share, in the quarter ended April 10, compared with $23 million, or 60 cents a share, a year earlier. The results surprise the Wall Street. Analysts surveyed by Thomson Reuters had projected of earnings of 70 cents a share.
Quarterly revenue rose to $361.2 million, topping analysts estimate of $360.3 million.
The company said that sales for Odoba chain rose 9.5 percent in the period, while the box segment posted a 2 percent decline in revenue. Same-store sales were flat for Jack in the Box while it rose 2.1 percent at Odoba. The company acquired Odoba in 2003.
For the current quarter, the company expects same-store sales for Jack in the Box to be down 2% to flat. Same-store sales from Qdoba company locations are expected to be down 1% to up 1%.
The shares jump as much as 14.4 percent to $74.53 at 12:06 p.m. in New York. The stock were down more than 5 percent before the company released its results.