The Cheesecake Factory Incorporated (CAKE) announced its second-quarter earnings, revealing a significant year-over-year increase and surpassing Wall Street expectations.
The company's net income for the quarter reached $52.444 million, or $1.08 per share. This is an improvement from the $42.675 million, or $0.87 per share, reported in the same quarter last year.
On an adjusted basis, excluding special items, The Cheesecake Factory's earnings were $53.153 million, or $1.09 per share.
Analysts, based on data from Thomson Reuters, had predicted the company would earn $1.00 per share. Notably, these analyst estimates generally exclude special items.
Revenue for the quarter saw a 4.4% uplift, climbing to $904.042 million from $866.170 million in the previous year.
To summarize The Cheesecake Factory's quarterly performance (GAAP):
- Earnings (Q2): $52.444 million vs. $42.675 million last year
- EPS (Q2): $1.08 vs. $0.87 last year
- Revenue (Q2): $904.042 million vs. $866.170 million last year
