Why Cheesecake Factory Stock Popped Today
The popular restaurant chain is becoming more profitable as its quarterly sales top $1 billion.
Overview
Shares of Cheesecake Factory (NASDAQ: CAKE) rose on Wednesday after the restaurant operator's profits exceeded investors' expectations.
Image source: Getty Images.
Cheesecake Factory's revenue rose nearly 8% year over year to $1 billion in the second quarter, driven by new store openings and higher sales at existing locations.
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.