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Cheesecake Factory: 3Q Earnings Snapshot
2019-11-03 09:32
CALABASAS HILLS, Calif. (AP) _ The Cheesecake Factory Inc. (CAKE) on Tuesday reported third-quarter profit of $16.1 million.
The Calabasas Hills, California-based company said it had profit of 36 cents per share. Earnings, adjusted for investment costs and costs related to mergers and acquisitions, were 59 cents per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The restaurant chain posted revenue of $586.5 million in the period, which did not meet Street forecasts. Ten analysts surveyed by Zacks expected $594.3 million.
Cheesecake Factory shares have climbed roughly 1% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $43.78, a decrease of 8.5% in the last 12 months.
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/CAKECopyright 2019, Associated Press, The
