CALABASAS HILLS, Calif. (AP) — CALABASAS HILLS, Calif. (AP) — The Cheesecake Factory Inc. (CAKE) on Wednesday reported a fourth-quarter loss of $3.3 million, after reporting a profit in the same period a year earlier.
The Calabasas Hills, California-based company said it had a loss of 7 cents per share. Earnings, adjusted for one-time gains and costs, were 56 cents per share.
The results met Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of 56 cents per share.
The restaurant chain posted revenue of $892.8 million in the period, which missed Street forecasts. Nine analysts surveyed by Zacks expected $902.3 million.
For the year, the company reported profit of $43.1 million, or 86 cents per share. Revenue was reported as $3.3 billion.
Cheesecake Factory shares have increased 28% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $40.68, a decline of nearly 4% 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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