Chipotle (CMG - Free Report) blew the doors off its Q2 earnings results, posting $3.99 per share versus $3.69 expected. This was on revenues of $1.43 billion, which managed to eke out a positive surprise, as well. Same-store sales rose 10% year over year, with digital sales increasing 99% from the same quarter a year ago. Digital sales now account for 18% of Chipotle's total.
As opposed to many companies this quarter officially outperforming earnings estimates but still coming up short of year-ago numbers, Chipotle's bottom line rose 39% in Q2. Restaurant margins at 20% were in-line with estimates, and the company guided toward high single-digit comps growth. The stock, which has already ballooned up 70% year to date, is up another 4% in the after hours. For more on CMG's earnings, click here.
Zacks Rank #2 (Buy)-rated Visa (V - Free Report) once again topped estimates on the bottom line -- no negative earnings surprises in more than 5 years -- with $1.37 per share outpacing the Zacks consensus by 4 cents, on $5.84 billion which left in the dust the $5.70 billion estimate. Purchase Volume Growth rose 9% in adjusted currency, and we see the company's shares, already +40% from the beginning of the year, now reaching new all-time highs.
Texas Instruments' (TXN - Free Report) Q2 earnings outperformed expectations after Tuesday's close, posting $1.29 per share on $3.67 billion, compared with the estimated $1.21 per share and $3.60 billion, respectively. While these figures are down from year-ago tallies, Texas Instruments has adjusted its revenue guidance for Q3 to between 3.65 billion and $3.95 billion. The Zacks consensus ahead of this report was for $3.85 billion. Shares are up in late trading north of 5%. We expect details on the company's plans to navigate the Chinese market and 5G in the conference call. For more on TXN's earnings, click here.
And Snap Inc. (SNAP - Free Report) posted a narrower-than-expected loss on its bottom line this afternoon, -6 cents per share an improvement on the -10 cents expected and -14 cents in the same quarter a year ago. Revenues of $388 million was well ahead of the $358.5 million analysts were looking for. Daily Active Users rose 13 million to 203 million in total, gaining 3 million users in North America alone. Guidance was ratcheted up, and the stock, which had traded up in the regular trading day by 5%, is up another 8% in the late session.
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