Domino's profit soars 37.4% (DPZ)

(Reuters) - Domino's Pizza Inc reported better-than-expected quarterly revenue and profit, helped by higher demand in the United States and more revenue from franchisees.The company's shares were up 3 percent at $186.37 in premarket trading on Thursday.Same-store sales at company-owned outlets in the United States, Domino's biggest source of store revenue, jumped 14.1 percent in the first quarter, above the 12 percent rise expected by analysts polled by research firm Consensus Metrix.The biggest U.S. pizza delivery chain has managed to stay ahead of rivals such as Yum Brands' Pizza Hut by effectively using technologies such as digital wallets and apps for smartphones and smartwatches that help customers place and pay for orders quickly.Domino's supply chain revenue, through which it supplies franchisees and which accounted for 62 percent of the company's total revenue, rose 15.7 percent to $388.6 million.The company's net income rose to $62.5 million, or $1.26 per share, in the quarter ended March 26, from $45.5 million, or 89 cents per share, a year earlier.Domino's said it adopted a new accounting standard in the quarter, which boosted profit by about 13 cents per share.Revenue rose 15.8 percent to $624.2 million.Analysts on average had expected earnings of $1.16 per share on revenue of $615.8 million, according to Thomson Reuters I/B/E/S. (Reporting by Karina Dsouza and Sruthi Ramakrishnan in Bengaluru; Editing by Shounak Dasgupta and Maju Samuel)SEE ALSO:Ford's profit drops as higher costs and investments weighJoin the conversation about this storyNOW WATCH: This man spent 6 weeks working undercover in an iPhone factory in China ' here's what it was like
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