Bloomin' Brands Stock Surges 40% After Reporting Higher Q2 Earnings

(RTTNews) - Bloomin' Brands, Inc. (BLMN) shares jumped $3.56, or 39.91 percent, to $12.48 on Wednesday, after the restaurant operator reported higher second-quarter earnings and revenue compared with the prior-year period.

The stock opened at $12.12 and traded between $11.40 and $12.63 during the session on the Nasdaq. It has traded in a 52-week range of $5.19 to $12.63. Trading volume reached 3.70 million shares, compared with an average daily volume of 2.37 million shares.

For the second quarter, net income attributable to Bloomin' Brands increased to $31.34 million, or $0.36 per share, from $25.42 million, or $0.30 per share, a year earlier. Total revenue rose to $1.016 billion from $1.002 billion, while income from operations improved to $38.26 million from $29.65 million in the prior-year quarter.