On Tuesday, Domino's Pizza, Inc. (NYSE: DPZ) announced its financial results for the second quarter of 2017, with both net income and revenues beating estimates, while the company’s international same-store sales missed expectations.
According to the company, for the quarter ended June 18, revenue increased 15% to $628.6 million, which is the fifth straight double-digit quarterly growth in percentage terms. The results also beat expectations of $614.4 million. Net income for the second quarter rose from $49.3 million, or 98 cents per share, a year earlier, to $65.7 million, or $1.32 per share, beating estimates of $1.23 per share.
However, Domino's international same-store sales were up only 2.6%, which was far below analysts’ estimates of 5% growth. Despite the worse-than-expected results for international same-store sales, the same-store sales at Domino's-owned outlets in the United States rose 11.2% in the quarter ended June 18, beating estimates of 7.7%.
Currently, Domino owns international outlets of 8,601 units, and by the end of the quarter, it had 5,399 restaurants in the United States.
“It was another outstanding quarter for our domestic business, as brand momentum, strong execution and emphasis on getting better each day continued to drive what we do,” J. Patrick Doyle, Domino's President and Chief Executive Officer, said in the statement on Tuesday.
“While international same store sales growth was slightly under our expectations, we remain very confident in our continued ability to generate best-in-class growth, and are encouraged by the strong store growth we are seeing from our international franchisees,” he said.