Cheesecake Factory (CAKE) Q1 Earnings Top Estimates, Rise Y/Y

The Cheesecake Factory Incorporated CAKE reported solid first-quarter fiscal 2021 results, with earnings and revenues beating the Zacks Consensus Estimate as well as increasing on a year-over-year basis.

Notably, the company benefitted from the easing of COVID-19 dining restrictions and improving consumer spending trends. This along with pent-up demand in dining and off-premise sales volumes contributed to the fiscal first-quarter performance. Following the results, shares of the company moved up 8.2% during after-hour trading session on Apr 28.

Earnings & Revenue Discussion

In the quarter under review, adjusted earnings per share came in at 20 cents that beat the Zacks

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