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Thursday, Mar 28, 2024

Restaurant Chains Beat Expectations

Earnings at IHOP Corp. and The Cheesecake Factory, the San Fernando Valley’s largest restaurant companies, both beat analyst’s expectations for the second quarter of the year. Glendale-based IHOP said its net income rose to $14.1 million or $0.82 per share for the second quarter, up 37 percent from $10.3 million or $0.56 per share in the comparable period a year ago. Thomson Financial analysts projected earnings of $0.59 per share for the company. At Cheesecake in Calabasas Hills, earnings rose to $23.7 million or $0.33 per share in the second quarter compared to estimates of $0.31 for the period. Cheesecake’s second quarter net income compared with $23.4 million or $0.30 per share in the second quarter of 2006.

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