CALABASAS HILLS, Calif. (AP) — CALABASAS HILLS, Calif. (AP) — The Cheesecake Factory Inc. (CAKE) on Wednesday reported fourth-quarter net income of $28.8 million.
The Calabasas Hills, California-based company said it had net income of 60 cents per share. Earnings, adjusted for one-time gains and costs, were $1 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The restaurant chain posted revenue of $961.6 million in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $948.9 million.
For the year, the company reported profit of $148.4 million, or $3.06 per share. Revenue was reported as $3.75 billion.
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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