Shake Shack Sinks After Revenue Miss on Beef Costs, Weather

Shake Shack Inc. shares plummeted after the burger chain reported first-quarter revenue that missed expectations due to pressures including rising beef costs and inclement weather.

The New York-based company reported revenue of $366.7 million, below the analyst estimate for $372.5 million. Comparable sales growth of 4.6% was roughly in line with expectations.