Cheesecake Factory: Q3 Earnings Snapshot

Audio By Carbonatix

CALABASAS HILLS, Calif. (AP) — CALABASAS HILLS, Calif. (AP) — The Cheesecake Factory Inc. (CAKE) on Tuesday reported third-quarter net income of $30 million.

On a per-share basis, the Calabasas Hills, California-based company said it had profit of 61 cents. Earnings, adjusted for one-time gains and costs, were 58 cents per share.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.

The restaurant chain posted revenue of $865.5 million in the period, which missed Street forecasts. Ten analysts surveyed by Zacks expected $866 million.

Cheesecake Factory shares have increased 22% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $42.80, a rise of 40% in the last 12 months.

_____

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