Why Wendy's Stock Dropped Today
Shares of Wendy's (NASDAQ: WEN) dropped 8.3% on Thursday after the fast-food chain announced solid fourth-quarter 2019 results, but followed with disappointing forward guidance.
To be sure, Wendy's quarterly revenue grew 7.4% year over year to $427.2 million, translating to adjusted (non-GAAP) net income of $0.08 per share (down from $0.16 per share a year earlier). Analysts, on average, were expecting roughly the same adjusted earnings on slightly lower revenue of $425 million.
IMAGE SOURCE: WENDY'S.
Source Fool.com
