CALABASAS HILLS, Calif. (AP) — CALABASAS HILLS, Calif. (AP) — The Cheesecake Factory Inc. (CAKE) on Wednesday reported first-quarter net income of $49.5 million.
On a per-share basis, the Calabasas Hills, California-based company said it had profit of $1.02. Earnings, adjusted for one-time gains and costs, came to $1.05 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.
The restaurant chain posted revenue of $978.8 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $966.2 million.
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