April 30 Domino's Pizza Inc, the second-largest U.S. pizza chain, on Tuesday reported quarterly profit that topped Wall Street's view, bolstered by strong results around the world, lower expenses and $18 million in share repurchases.
The results from Domino's come at a time when U.S. restaurant operators ranging from McDonald's Corp to Darden Restaurants Inc, the parent of Olive Garden, are struggling to grow profits amid intense competition for the business of frugal diners.
First-quarter net income at Domino's grew 66 percent to $34.4 million, or 59 cents per share, topping analysts' average estimate by 4 cents per share, according to Thomson Reuters I/B/E/S.
Revenue increased 8.6 percent to $417.6 million. Closely watched sales at restaurants open at least one year were better than expected, according to Consensus Metrix.
Same-restaurant sales rose 6.2 percent in the United States, helped by demand for the company's new pan pizzas, and 6.5 percent internationally.
Domino's competes with Yum Brands Inc's Pizza Hut chain and Papa John's International Inc.