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

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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

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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