Papa John's International Inc PZZA is trading higher Thursday in sympathy with Domino's Pizza Inc DPZ, which reported better-than-expected financial results.
Domino's reported second-quarter earnings of $3.12 per share, which beat the estimate of $2.86 per share. The company reported quarterly revenue of $1.03 billion, which beat the estimate of $969.91 million.
Papa John's operates and franchises pizza delivery and carryout restaurants globally. North American franchisees pay a 5% royalty on sales to the company.
Price Action: Papa John's is making a new 52-week high in trading today.
At last check Thursday, the stock was up 6.46% at $188.87.
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