Denny’s shares lifted 3% by better-than-expected revenue, earnings

/ / News

Denny’s Corp. shares were up 3.5% in after-hours trading Tuesday after the restaurant chain reported fiscal third-quarter results that soundly beat Wall Street estimates. Denny’s reported net income of $6.5 million, or 10 cents a share, compared with net income of $49.1 million, or 80 cents a share, in the year-ago quarter. Revenue slumped 42% to $71.6 million from $124.3 million a year ago. Analysts surveyed by FactSet had expected a loss of 4 cents a share on revenue of $67.3 million. Denny’s shares have plummeted 47% this year as the company continues to be punished by the pandemic. The broader S&P 500 index has improved 5% in 2020.
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.