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The
company's shares were up 5.2 percent at $15.89 in light
premarket trading on Wednesday.
Wendy's in January added the Double Stack cheeseburger, which
includes a burger, chicken nuggets, a small serving of fries and
a drink, to its "4 for $4" value meals.
The meal and other promotions have helped the burger chain
attract diners amid a drop in grocery prices in recent months,
which is encouraging more people to cook at home.
Sales at restaurants open at least a year rose 1.6 percent,
above the 1.1 percent growth expected by analysts polled by
research firm Consensus Metrix.
Net income fell to $22.3 million from $25.4 million in the first
quarter ended April 2, the company said.
On a per share basis, the company's profit remained unchanged at
9 cents per share due to fewer outstanding shares from a year
earlier.
Revenue fell 24.5 percent to $285.8 million from a year earlier,
mainly because the company sold more restaurants to franchisees.
Analysts on average had expected earnings of 8 cents per share
on revenue of $282.6 million, according to Thomson Reuters
I/B/E/S.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by
Martina D'Couto)
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