Cheesecake Factory: Q4 Earnings Snapshot

CALABASAS HILLS, Calif. (AP) — CALABASAS HILLS, Calif. (AP) — The Cheesecake Factory Inc. (CAKE) on Wednesday reported fourth-quarter net income of $12.7 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Calabasas Hills, California-based company said it had profit of 26 cents. Earnings, adjusted for one-time gains and costs, were 80 cents per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.

The restaurant chain posted revenue of $877 million in the period, which fell short of Street forecasts. Ten analysts surveyed by Zacks expected $877.3 million.

For the year, the company reported profit of $101.4 million, or $2.07 per share. Revenue was reported as $3.44 billion.

Cheesecake Factory shares have declined 2% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $34.23, a decrease of 14% 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