Chipotle Posts Better-than-Expected Profit

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NEWPORT BEACH, Calif. (AP) — Chipotle Mexican Grill Inc. on Tuesday reported second-quarter earnings of $259.9 million.

On a per-share basis, the California-based company said it had net income of $9.25. Earnings, adjusted for non-recurring costs, came to $9.30 per share.

The results surpassed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $9.03 per share.

The Mexican food chain posted revenue of $2.21 billion in the period, falling short of Street forecasts. Thirteen analysts surveyed by Zacks expected $2.24 billion.

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