Wendy's announced that it earned a profit during the first quarter due to a gain on an investment sale. However, the company missed analyst estimates and cut its 2012 forecast. Wendy's earned $12.4 million, or 3 cents per share, versus a loss of $1.4 million in the same period last year. Revenue increased by two percent to $593.2 million from $582.5 million, short of estimates of $601.8 million. The company expects earnings for the year to be in a range of $320 million to $335 million, while it had previously expected a range of $335 million to $345 million.
Shares are lower in early trading.
Rival McDonald's (MCD) today announced that same store sales increased by a smaller than expected 3.3 percent in April.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.