Shares of pizza delivery company Domino's Pizza (NYSE:DPZ) jumped on Thursday, rising about 24% as of 11:56 a.m.
The stock's move higher follows Domino's strong fourth-quarter results, which featured better-than-expected revenue and earnings per share.
Domino's fourth-quarter revenue rose 6.3% year over year to $1.15 billion in Q4, easily beating analysts' average forecast for revenue of $1.12 billion. Earnings per share jumped from $2.62 in the year-ago period to $3.12. Analysts were expecting EPS of $2.98.
Year-over-year growth during the period was fueled primarily by 1,106 net store openings in 2019 and 3.4% year-over-year growth in same-store sales in the U.S. during Q4.
In 2020, management said it expects total retail store sales to grow 7% to 10% year over year when excluding the impact of fluctuations in foreign currencies. Further, Domino's guided for same-store sales growth of 2% to 5% in the U.S. and 1% to 4% internationally (excluding the impact of foreign exchange fluctuations).