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Shake Shack stock soars after reporting earnings beat, raising revenue forecast

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Shares of Shake Shack rose nearly 3% in extended trading on Monday, after the company reported second-quarter earnings that topped Wall Street's expectations and raised its revenue forecast for the year

Shake Shack's fiscal second-quarter earnings beats what analysts were expecting.

The stock, which has gained more than 60% so far this year, surged as much as 6% after the bell before backing off its highs. Recently, shares were up nearly 3%. The company has a market value of $2.7 billion. Excluding items, Shake Shack earned 27 cents a share, topping the 23 cents a share expected by analysts surveyed by Refinitiv.

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