Cheesecake Factory: 1Q Earnings Snapshot
CALABASAS HILLS, Calif. (AP) _ The Cheesecake Factory Inc. (CAKE) on Tuesday reported a first-quarter loss of $3.9 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Calabasas Hills, California-based company said it had a loss of 9 cents. Earnings, adjusted for one-time gains and costs, were 4 cents per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 46 cents per share.
The restaurant chain posted revenue of $615.1 million in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $613.9 million.
Cheesecake Factory shares have declined 50% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $19.52, a decrease of 61% 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