Papa John’s shares soar after earnings beat, new $425 million share buyback program

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Papa John’s International Inc. stock soared 8.4% in Thursday trading after the pizza chain reported third-quarter earnings that beat expectations and announced a new share buyback program. Net income totaled $29.3 million, or 79 cents per share, up from $15.7 million, or 35 cents per share, last year. Adjusted EPS of 83 cents beat the FactSet consensus of 71 cents. Revenue of $512.8 million was up from $472.9 million and also ahead of the $500.9 million FactSet consensus. Comparable sales grew 7.3%, far exceeding the FactSet consensus for 4.8% growth. North American comparable sales grew 6.9% and international comparable…

This article was originally published by Marketwatch.com. Read the original article here.

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