U.S. restaurant chain Shake Shack reported its first-quarter financial results, with revenue rising 14.3% year-over-year to $366.7 million and same-store sales increasing 4.6%. The company reported a net loss of $300,000 for the first quarter, compared to a net profit of $4.5 million in the same period last year. Due to rising beef costs, pre-opening expenses, and investments in technology and marketing, Shake Shack lowered its second-quarter revenue forecast to $415 million–$420 million (down from $424 million–$428 million) and reduced its full-year adjusted EBITDA forecast to $225 million–$235 million (down from $230 million–$245 million). The company will release its second-quarter financial results on August 5.