Chipotle Mexican Grill (NYSE:CMG) Q2 F2017 earnings and AT&T (NYSE:T) Q2 F2017 earnings were released after closing bell tonight. Chipotle reported earnings of $2.32 per share on $1.17 billion in revenue. The fast casual dining chain reported $998.4 million in revenue and 87 cents per share in earnings in last year’s second quarter.
AT&T posted adjusted earnings of 79 cents per share on $39.8 billion in revenue. The company’s revenue was in line with consensus, although analysts had been expecting adjusted earnings of 73 cents per share. In last year’s second quarter, AT&T reported 72 cents per share in adjusted earnings on $40.5 billion in revenue.
Chipotle Mexican Grill Q2 F2017 earnings
Chipotle Mexican Grill Q2 F2017 earnings revealed a remarkable 8.1% increase in same-store sales, citing higher customer visits and average check size due to reduced promotions. Food costs amounted to 34.1% of revenue, 10 basis points lower than last year’s second quarter.
“We saw encouraging signs in our improved financial results during the first half of the year,” Chipotle Founder, Chairman and Chief Executive Steve Ells said in a statement. “Recent events, however, have shown that we still have a lot of opportunity to improve our operations and deliver the outstanding experience that our customers expect,” he added, referring to the norovirus outbreak at one of its Virginia restaurants.
He vowed to keep strengthening the company’s teams, improving its technology and expanding its menu. The outbreak occurred too recently to have any impact on the dining chain’s second quarter earnings.
After the Chipotle Mexican Grill Q2 F2017 earnings were released, the company’s stock jumped by as much as 2.69% to $358 in after-hours trades. However, it has yet to regain its losses after the most recent food-related illness.
AT&T Q2 F2017 earnings
AT&T Q2 F2017 earnings were 63 cents per share on a GAAP basis, compared to 55 cents per share in last year’s second quarter. The company said declines in legacy wireline services and consumer mobility drove the year over year revenue decline.
In the U.S., the company returned its best-ever wireless results with a record low postpaid churn rate of 0.79% and total postpaid churn of 1.01%, including tablets. The mobile carrier added 2.8 million net wireless customers, including 2.8 million in the U.S. and 476,000 in Mexico. The company’s Entertainment Group added 112,000 net IP broadband customers and 8,000 total broadband net subs.
After the AT&T Q2 F2017 earnings were released, the company’s stock surged in after-hours trading, climbing by as much as 2.43% to $37.10.