Domino's Pizza Inc (NYSE:DPZ) shares moved lower as the company’s first quarter revenue fell short of Wall Street estimates.
Revenues increased 2.5% year-over-year to $1.11 billion, below the $1.13 billion expected.
This drew focus from better-than-expected profits for the quarter. Earnings per share were up 20.9% at $4.33 from $3.58 in the year-ago quarter, ahead of estimates of $4.05.
The pizza giants said its US same-store sales fell 0.5% while international same-store growth was 3.7% during the quarter.
The company saw a global net store decline of eight, with 17 net store openings in the US partially offsetting 25 net store closures internationally.
“Domino’s Q1 results demonstrate that our Hungry for MORE strategy continues to drive market share growth in QSR Pizza across both our US and international businesses,” Domino’s CEO Russell Weiner said in a statement.
Shares of Domino’s fell 1.7% to $479.50 before markets opened on Monday.