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Wednesday, Dec 6, 2023

Cheesecake Factory Beats the Street

The Cheesecake Factory Inc. on Wednesday reported first-quarter earnings that beat expectations. The Calabasas restaurant company said it had net income of $34 million or 68 cents a share. Analysts anticipated earnings of 60 cents. However, the restaurant chain missed a bit on the top line. It posted revenue of $554 million in the period; analysts expected $556 million. Earnings were released after the markets closed. The company’s stock on Wednesday closed down 17 cents, less than 1 percent, to $51.31.

Charles Crumpley
Charles Crumpley
Charles Crumpley has been the editor and publisher of the San Fernando Valley Business Journal since March 2016. In June 2021, it was named the best business journal of its size in the country – the fourth time in the last 5 years it won that honor. Crumpley was named best columnist – also for the fourth time in the last 5 years. He serves on two business-supporting boards and has won awards for his civic involvement. Crumpley, a former newspaper reporter, won several national awards and fellowships for his work, and he was a Fulbright scholar to Japan.

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