Shake Shack reported second-quarter earnings and revenue that beat analysts' estimates after the bell on Wednesday.
The burger restaurant reported second-quarter earnings of 14 cents per share on revenue of $66.5 million, compared to analysts expectations of 13 cents per share on revenue of $63 million, according to a consensus estimate from Thomson Reuters.
Shares of Shake Shack dropped more than 9 percent in extended trading.Andrey Rudakov | Bloomberg | Getty ImagesA worker grills hamburger patties at a fryer in the kitchen of the first Shake Shack burger restaurant
The company said that comparable-store sales grew 4.5 percent, less than Wall Street projections for 4.9 percent, according to StreetAccount.
Despite the comparable sales miss, Shake Shack raised its full-year outlook and now expects between $253 million and $256 million in sales. It previously expected between $245 million and $249 million in revenue.
Shake Shack shares have fallen more than 40 percent in the last year amid growth and valuation concerns.