Cheesecake Factory Q1 2024 Adj EPS $0.73 Beats $0.63 Estimate, Sales $891.200M Beat $890.871M Estimate
Portfolio Pulse from Benzinga Newsdesk
Cheesecake Factory (NASDAQ:CAKE) reported Q1 2024 earnings of $0.73 per share, surpassing the consensus estimate of $0.63 by 15.87%. Sales reached $891.2M, slightly above the $890.871M estimate, marking a 2.90% increase from the previous year.

May 08, 2024 | 9:33 pm
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Cheesecake Factory exceeded Q1 2024 EPS and sales estimates, showing a 2.90% YOY sales increase.
Beating both EPS and sales estimates typically leads to positive investor sentiment and can result in a short-term stock price increase. The reported year-over-year sales growth further strengthens the company's financial position and outlook, likely contributing to positive market reactions.
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