FX.co ★ The Cheesecake Factory Incorporated Q1 Profit Increases, beats estimates

The Cheesecake Factory Incorporated recently revealed its first quarter earnings, showing an increase from the same period in the previous year and surpassing the projections of Wall Street.

The company's net profit amounted to $33.10 million, equivalent to $0.68 per share. This presents a notable improvement from the $28.05 million, or $0.56 per share, reported in the first quarter of the preceding year.

On adjustment of certain variables, The Cheesecake Factory Incorporated announced a profit of $35.56 million or $0.73 per share for the quarter in question.

Analysts, on average, posited that the company would earn $0.63 per share, according to data collated by Thomson Reuters. These projections generally don’t take special items into consideration.

For this quarter, the company's revenue rose by 2.9% to $891.22 million from the previous year's $866.11 million.

A brief overview of The Cheesecake Factory Incorporated's earnings (based on GAAP) indicates:

-First quarter earnings: $33.10 million, up from $28.05 million the previous year.

-First quarter earnings per share (EPS): $0.68, up from $0.56 the previous year.

-First quarter revenue: $891.22 million, up from $866.11 million the previous year.