CALABASAS HILLS, Calif. (AP) — CALABASAS HILLS, Calif. (AP) — The Cheesecake Factory Inc. (CAKE) on Wednesday reported fourth-quarter net income of $41.2 million.
On a per-share basis, the Calabasas Hills, California-based company said it had net income of 83 cents. Earnings, adjusted for one-time gains and costs, were $1.04 per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The restaurant chain posted revenue of $921 million in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $912.2 million.
Cheesecake Factory shares have increased 14% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $54.29, an increase of 56% 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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