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Cava Group posts surprise profit, beats revenue estimates but shares slump
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Investing.com -- CAVA Group Inc (NYSE:CAVA)reported a surprise fourth-quarter profit on Tuesday, as the fast-casual restaurant chain posted revenue that exceeded Wall Street expectations. But shares were trading down 7% aftermarket.
The company reported earnings per share of $0.05 for the quarter ended Dec. 31, topping analysts’ average estimate of a loss of $0.01.
Revenue came in at $225.1 million, above analysts’ expectations of $193.41 million.
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