Dominos Pizza $DPZ (+1,86%) reported first-quarter results Monday morning that beat Wall Street forecasts on both the top and bottom lines.

For the first three months of 2024, the company said it grew revenue 22% year-over-year to $3.58 per share, well above the $3.40 surveyed by FactSet. Total revenue was $1.08 billion, up 6% from a year ago and slightly ahead of Street expectations.

"Our first quarter results showed that our Hungry for More strategy is off to a strong start: driving more sales, more business and more profits," CEO Russell Weiner said in a statement, referring to a five-year growth plan the company announced in December. The plan, dubbed Hungry for More, aims to open an additional 1,100 new stores by 2028, increase retail sales by 7% each year and grow operating profits by 8% each year.

The pizza chain has over 20,000 restaurants around the world, most of which are run by franchisees who pay royalties and fees to the company. Global sales across the Domino's network totaled $4.36 billion in the first quarter, up 7.3% year-over-year, excluding the impact of changes in foreign exchange rates.

Same-restaurant sales increased 5.6% in U.S. stores, eclipsing the 1% growth in international locations. U.S. growth was driven primarily by higher carryout and delivery order counts across all income cohorts, Weiner said. In the first quarter, Domino's opened 164 new restaurants, all but 20 of which are international.

"We are focused on franchisee profitability and business growth, which will fuel the company's ability to win and create meaningful long-term value for our shareholders," Weiner said in Monday's statement.

Domino's began working with 2023 Uber Eats as part of a push to reach more affluent households and improve sales in the delivery channel. The company began marketing on the platform in the first quarter of this year. Management expects Uber sales to increase and reach 3% of total revenue by the end of the year.