Shares of Shake Shack Inc. jumped in Wednesday’s extended session after the casual restaurant chain raised its 2016 revenue outlook. Shake Shack reported its third-quarter earnings rose to $6.8 million, or 15 cents a share, from $6.2 million, or 10 cents a share, in the year-earlier period. Revenue grew 40.2% to $71.9 million while same-store sales rose 2.9%, slowing from an increase of 17.1% year ago. Analysts surveyed by FactSet had forecast earnings of 14 cents a share on revenue of $69.3 million. The burger chain raised its 2016 revenue outlook to a range of $264 million to $265 million from $253 million to $256 million previously. It also projected same-store sales of 4% to 5% for the year. For 2017, it projected revenue of $348 million to $352 million and same-store sales of 2% to 3%. Shake Shack shares rallied 11% after hours.
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