Recap: Cheesecake Factory Q4 Earnings
Portfolio Pulse from Benzinga Insights
Cheesecake Factory (NASDAQ:CAKE) reported Q4 earnings, beating estimated earnings by 8.11% with an EPS of $0.8 against an estimate of $0.74, but saw a revenue decline of $15.79 million from the same period last year. This follows a pattern from the previous quarter where a miss on EPS led to a 2.01% drop in share price the next day.
February 21, 2024 | 9:50 pm
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Cheesecake Factory reported a positive earnings surprise with an 8.11% beat on EPS estimates but experienced a revenue decline from the previous year.
While the beat on EPS estimates is positive, the revenue decline could temper investor enthusiasm. Historical data shows a previous earnings miss led to a share price drop, suggesting market sensitivity to earnings reports. However, the positive EPS beat might offset concerns about the revenue decline in the short term.
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