CALABASAS HILLS, Calif. (AP) — CALABASAS HILLS, Calif. (AP) — The Cheesecake Factory Inc. (CAKE) on Wednesday reported first-quarter net income of $32.9 million.
On a per-share basis, the Calabasas Hills, California-based company said it had net income of 67 cents. Earnings, adjusted for one-time gains and costs, came to 93 cents per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The restaurant chain posted revenue of $927.2 million in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $925.5 million.
Cheesecake Factory shares have increased 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $50.37, a rise of 46% 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 CAKE at https://www.zacks.com/ap/CAKE
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