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Shares of the global pizza giant Domino's Pizza (NYSE: DPZ) jumped more than 10% on Thursday after its revenue in the fiscal third quarter came in better than expected. The company revenue in its latest quarter increased 7.1% to $1.07 billion but its adjusted earnings still declined 14% to $2.79 per share, which was below the $2.97 expected.
The strong last quarter revenue was boosted by steady demand for its pizza and deep promotions. During the quarter, Domino's U.S. same-store sales increased by 2.0% while international same-store sales declined by 1.8%. On the other hand, the Company's Board of Directors declared a $1.10 per share quarterly dividend on its outstanding common stock for shareholders of record as of December 15, 2022, to be paid on December 30, 2022.
Domino's stock retreats back to below $320 after hitting a fresh weekly high of $336. However, the stock is still down nearly 40% for the year. In the short term, the key resistance is located above the last week's high around $336, a break above this level will confirm a possible move to $345 and $370. On the downside, if the stock loses the $300 handles, then we expect a move toward $275 and $270.
Read more here - https://gulfbrokers.com/en/dominos-shares-jump-after-q3-revenue-beat
- Earnings per share: $2.79 vs. #2.97 expected
- Revenue: $1.07 billion vs. $1.06 billion expected
The strong last quarter revenue was boosted by steady demand for its pizza and deep promotions. During the quarter, Domino's U.S. same-store sales increased by 2.0% while international same-store sales declined by 1.8%. On the other hand, the Company's Board of Directors declared a $1.10 per share quarterly dividend on its outstanding common stock for shareholders of record as of December 15, 2022, to be paid on December 30, 2022.
Domino's stock retreats back to below $320 after hitting a fresh weekly high of $336. However, the stock is still down nearly 40% for the year. In the short term, the key resistance is located above the last week's high around $336, a break above this level will confirm a possible move to $345 and $370. On the downside, if the stock loses the $300 handles, then we expect a move toward $275 and $270.
Read more here - https://gulfbrokers.com/en/dominos-shares-jump-after-q3-revenue-beat
