 "Domino's Pizza quarterly revenue misses estimates on slowing demand")
(Reuters) - Domino's Pizza Inc missed Wall Street estimates for quarterly revenue on Thursday, as demand for its pizzas weakened after coronavirus-led restrictions were eased in the United States, sending shares down 3%.
The world's largest pizza chain was pressured by competition from those including McDonald's Corp and Chipotle Mexican Grill Inc, as the roll-out of vaccines and easing lockdowns encouraged consumers to dine out at restaurants.
Total revenue rose to $983.7 million in the first quarter from $873.1 million a year earlier, compared with estimates of $984.77 million, according to IBES data from Refinitiv.
Net income fell to $117.8 million, or $3 per share, from $121.6 million, or $3.07 per share, a year earlier.
(Reporting by Aditi Sebastian; Editing by Amy Caren Daniel)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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