CALABASAS HILLS, California — The Cheesecake Factory Inc. (CAKE) on Wednesday reported fourth-quarter earnings of $24.5 million.
On a per-share basis, the Calabasas Hills, California-based company said it had profit of 48 cents.
The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The restaurant chain posted revenue of $499.7 million in the period, which also did not meet Street forecasts. Analysts expected $510 million, according to Zacks.
For the year, the company reported profit of $101.3 million, or $1.96 per share. Revenue was reported as $1.98 billion.
Cheesecake Factory shares have increased slightly more than 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $53.04, an increase of 18 percent in the last 12 months.
Keywords: Cheesecake Factory, Earnings Report
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