Domino’s Pizza climbed the most in more than three years after posting profit and revenue that topped analysts’ estimates in the first quarter, as tech investments help it keep an edge against rivals.
Profit of $2.20 a share topped projections of $2.09 in the period that ended March 24. Revenue also exceeded estimates.
Pizza makers aren’t the exclusive providers of quick dinners anymore as Chipotle, Taco Bell and McDonald’s race to expand the service in the US and abroad. But Domino’s has been investing in technology to make sure it stays ahead of the competition.
The shares surged as much as 12% to $302.05 Wednesday in New York, the biggest intraday advance since February 2016. They had climbed about 9 percent this year through Tuesday’s close.