Cheesecake Factory Sinks On Weak Quarterly Revenue

Cheesecake Factory Inc. shares slumped late Monday after the restaurant chain reported disappointing quarterly revenue. Cheesecake Factory said third-quarter earnings rose to $26.2 million, or 52 cents a share, from $24.2 million, or 48 cents a share, a year ago. On an adjusted basis, the casual dining company would have earned 59 cents a share, better than the 56 cents a share forecast by analysts in a FactSet survey. Revenue grew to $526.7 million from $499.1 million but fell short of $535 million projected. Shares of Cheesecake Factory slumped 5.8% in after-hours trading.

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