CALABASAS HILLS, Calif. (AP) _ The Cheesecake Factory Inc. (CAKE) on Tuesday reported second-quarter net income of $33.7 million, after reporting a loss in the same period a year earlier.
The Calabasas Hills, California-based company said it had net income of 37 cents per share. Earnings, adjusted for one-time gains and costs, were 80 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.
The restaurant chain posted revenue of $769 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $747.6 million.
Cheesecake Factory shares have climbed 48% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $55.01, more than doubling 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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