Domino's Pizza Beats Quarterly Profit Expectations

The company's recent partnership with Uber Technologies is in focus

Laura McCandless

Deputy Editor

Jul 24, 2023 at 11:14 AM

Domino's Pizza Inc (NYSE:DPZ) reported second-quarter profits of $3.08, beating analyst estimates of $3.05, while revenue missed expectations. Insider Intelligence's senior analyst Zak Stambor noted that the "sluggish results help explain why Domino's is listing its menus on Uber Eats and Postmates to attract new customers," as higher menu prices and delivery charges pressure demand.

At last glance, DPZ was up 1.6% at $391.73, and earlier traded as high as $400.25. Should these gains hold, the stock will secure its first gain of its last three post-earnings sessions.

After announcing its partnership with Uber Technologies (UBER) on July 12, DPZ jumped 11.1%. Shares have remained at higher levels since, with this bull gap also pushing them above pressure at their 320-day moving average. Year-to-date, the stock is up 12.7%.

In the options pits, Domino's stock is today seeing five times the options volume typically seen at this point. The weekly 7/28 380-strike put is the most popular, with new positions being bought to open there.

Follow @Schaeffers

The $25K Day Trading Barrier is Gone

The long-standing Pattern Day Trader (PDT) rule that required many traders to maintain a $25,000 account balance is no longer standing in the way.

That means more traders can actively pursue short-term opportunities without the barrier that kept so many on the sidelines.

Now it's all about having the right strategy.

Dynamite Day Trading Signals helps you hit the ground running with up 2 options trade alerts per week, built to capture fast-moving opportunities.

👉 Sign up now to receive the next trade