Cheesecake Factory (CAKE) Q4 Earnings & Sales Miss Estimates
Zacks Investment Research | Feb 21, 2019 07:54AM ET
The Cheesecake Factory Incorporated (NASDAQ:CAKE) reported lower-than-expected results for the fourth quarter of 2018. Earnings missed the Zacks Consensus Estimate after beating the same in the third quarter. Revenues missed estimates for two consecutive quarters.
Adjusted earnings of 60 cents per share missed the Zacks Consensus Estimate of 61 cents by 1.6%. The bottom line, however, improved 13.2% from the prior-year quarter.
Earnings and revenues in the reported quarter were driven by comps growth at the Cheesecake Factory restaurants. The company’s sales-building initiatives as well as cost containment helped the quarter’s results.
Shares of the company inched up 1.6% following the quarterly results in the after-hours trading. Also, the company’s shares have gained 4.2% over the past month, outperforming the
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