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