Chipotle (NYSE:CMG) Shares Soar as Earnings Blow Past Expectations

Shares of Chipotle Mexican Grill (NYSE:CMG) skyrocketed in after hours trading, as the company rocketed past analysts' expectations.

Earnings in the fourth quarter surged to $1.47 a share, beating estimates of $1.29 a share by 18 cents. Revenue also handily beat estimates, coming in at $482.5 million, beating the $468.51 analysts were looking for. It was a 24.5 percent gain over the same period last year.

Founder, Chairman, and Co-CEO Steve Ells said, “Our accomplishments in 2010 were many - opening our first restaurant in London, hitting the 1,000 restaurant milestone, and serving naturally raised barbacoa in all of our restaurants - just to name a few. All of our accomplishments were made possible by remaining focused on our vision to change the way the world thinks about and eats fast food.”

Same-store sales jumped by 12.6 percent, a good measure of the health of any company of this type.

In after hours trading, Chipotle rose to $279.00, up $22.37, or 8.72 percent.