10:01 AM EDT, 05/10/2024 (MT Newswires) -- (Updates with the recent stock movement in headline and first paragraph.)

Sweetgreen ( SG ) shares were up more than 45% in recent Friday trading after the company reported a narrowed fiscal Q1 net loss and higher revenue.

The fast food restaurant operator reported a fiscal Q1 net loss late Thursday of $0.23 per diluted share, compared with a loss of $0.30 a year earlier.

Analysts polled by Capital IQ expected a loss of $0.22.

Revenue for the quarter ended March 31 rose to $157.9 million from $125.1 million a year earlier.

Analysts surveyed by Capital IQ expected $152 million.

For fiscal 2024, Sweetgreen ( SG ) increased its revenue guidance to $660 million to $675 million from its previous outlook of $655 million to $670 million. Analysts are looking for $666.8 million.

Price: 34.24, Change: +10.68, Percent Change: +45.33