Shares of Texas Roadhouse Inc. were initially up 5% in extended trading Thursday after the restaurant chain disclosed fiscal first-quarter results. Texas Roadhouse reported net income of $64.2 million, or 91 cents a share, compared with net income of $16 million, or 23 cents a share, in the year-ago quarter. Revenue improved 23% to $800.6 million from $652.5 million a year ago. Analysts surveyed by FactSet had expected net income of 59 cents a share on revenue of $746 million. Texas Roadhouse shares are up 33% so far in 2021. The broader S&P 500 index has improved 12% this year.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.