GRANTS PASS, Ore. (AP) — GRANTS PASS, Ore. (AP) — Dutch Bros Inc. (BROS) on Wednesday reported third-quarter net income of $12.6 million.

On a per-share basis, the Grants Pass, Oregon-based company said it had profit of 11 cents. Earnings, adjusted for one-time gains and costs, came to 16 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The drive-thru coffee chain operator and franchisor posted revenue of $338.2 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $324.4 million.

Dutch Bros expects full-year revenue in the range of $1.25 billion to $1.26 billion.

Dutch Bros shares have increased 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $34.94, a rise of 31% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BROS at https://www.zacks.com/ap/BROS