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Benzinga

Business

Adam Eckert

Why Bloomin Brands Shares Are Trading Higher Today

Bloomin Brands BLMN Bloomin Brands Inc

Bloomin Brands Inc (NASDAQ:BLMN) is trading higher Friday after the company reported better-than-expected fourth-quarter financial results and announced a buyback.

Bloomin Brands said quarterly revenue increased 28.9% year-over-year to $1.05 billion, which beat the $1.04 billion estimate. The company reported adjusted earnings of 60 cents per share, which beat the estimate of 52 cents per share.

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