Domino's Pizza quarterly revenue misses estimates on slowing demand

(Reuters) - Domino's Pizza Inc missed Wall Street estimates for quarterly revenue on Thursday, as demand for its pizzas weakened after coronavirus-led restrictions were eased in the United States, sending shares down 3%.

The world's largest pizza chain was pressured by competition from those including McDonald's Corp and Chipotle Mexican Grill Inc, as the roll-out of vaccines and easing lockdowns encouraged consumers to dine out at restaurants.

Total revenue rose to $983.7 million in the first quarter from $873.1 million a year earlier, compared with estimates of $984.77 million, according to IBES data from Refinitiv.

Net income fell to $117.8 million, or $3 per share, from $121.6 million, or $3.07 per share, a year earlier.

 

(Reporting by Aditi Sebastian; Editing by Amy Caren Daniel)