CALABASAS HILLS, Calif. (AP) _ The Cheesecake Factory Inc. (CAKE) on Thursday reported a third-quarter loss of $28.3 million, after reporting a profit in the same period a year earlier.
The Calabasas Hills, California-based company said it had a loss of 76 cents per share. Losses, adjusted for one-time gains and costs, were 33 cents per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of 51 cents per share.
The restaurant chain posted revenue of $517.7 million in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $492.8 million.
Cheesecake Factory shares have decreased 23% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $29.94, a drop of 32% 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/CAKE
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