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CALABASAS HILLS, Calif. (AP) — CALABASAS HILLS, Calif. (AP) — The Cheesecake Factory Inc. (CAKE) on Wednesday reported first-quarter profit of $28.1 million.
On a per-share basis, the Calabasas Hills, California-based company said it had profit of 56 cents. Earnings, adjusted for one-time gains and costs, were 61 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.
The restaurant chain posted revenue of $866.1 million in the period, which missed Street forecasts. Eight analysts surveyed by Zacks expected $869.1 million.
Cheesecake Factory shares have risen slightly more than 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $32.75, a decrease of roughly 5% 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 CAKE">Zacks stock report on CAKE at https://www.zacks.com/ap/CAKE