Shake Shack Inc Tanks After Earnings, Zillow Group, Inc. Shares Rise

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Shake Shack Inc Tanks After Earnings, Zillow Group, Inc. Shares Rise

Shake Shack and Zillow Group released their latest earnings reports after closing bell tonight. Shake Shack reported adjusted earnings of 10 cents per share or $3.7 million, a 30.9% increase year over year, on $76.7 million in sales, against the consensus estimates of 8 cents per share on $74.7 million in sales. In the same quarter a year ago, the dining change reported $54.2 million in revenue.

Zillow Group posted $245.8 million in revenue and net losses of $4.6 million or 3 cents per share, compared to the Wall Street estimates of 6 cents per share in adjusted earnings on revenue of $239.9 million for the first quarter. The company’s management had guided for revenue to be between $232 million and $237 million and net losses of between $14.1 million and $19.1 million. In the year-ago quarter, Zillow reported $186 million in revenue and net losses of 27 cents per share or $47.6 million.

Shake Shack’s same store sales fall

shake shack earnings

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Shake Shack’s net income rose to $2.3 million or 9 cents per share from $1.5 million or 7 cents per share. Same-Shack sales tumbled 2.5% year over year during the first quarter. Shack sales grew 42.2% to $74.2 million. Shack-level operating profits grew 26.9% to $18.7 million or 25.2% of Shack sales. Adjusted EBITDA grew 28.9% to $12.2 million.

The dining chain also increased its outlook for the full year. It now expects sales of $351 million to $355 million, versus the previous outlook of $349 million to $353 million. It expects same-Shack sales growth to be flat year over year, versus the previous guide for 2% to 3% growth.

Shares of Shake Shack plummeted by as much as 8.51% to $30.30 in after-hours trading.

Zillow Group shares rise

zillow group

Zillow Group’s adjusted EBITDA grew to $54.8 million or 22% of revenue, compared to $1.9 million or 1% of total revenue in the year-ago quarter. The company’s Marketplace revenue grew 36% year over year to $230.3 million, while Premier Agent revenue increased 30% to $175.3 million. Previously, the company had projected $170 million to $172 million in Premier Agent revenue. Other Real Estate revenue jumped 93% to $34.8 million, while Mortgages revenue grew 23% year over year to $20.3 million. Display revenue fell 9% to $15.4 million.

Shares of Zillow Group jumped by as much as 5.04% to $41.70 in after-hours trades.

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