UPDATE 2-Cheesecake Factory profit beats, shares up

* Q1 EPS 17 cents, tops Wall St view of 10 cents

* Overall same-restaurant sales fell 3.4 percent

* Shares jump 11 percent (Adds outlook, company comment; updates share activity)

LOS ANGELES, April 23 (Reuters) - The Cheesecake Factory Inc (CAKE.O) on Thursday posted first-quarter net income that fell 30 percent, but still topped analysts' view with help from cost cutting, and shares jumped 11 percent.

Cheesecake Factory and other in middle-tier restaurant companies such as P.F. Chang's China Bistro (PFCB.O) have been rewarded with big share gains after serving up better-than-expected results on tight expense management.

The company, known for its big portions and extensive menu, said net income fell 30 percent to $10.0 million, or 17 cents per share in the quarter, from $14.3 million, or 21 cents per share, a year earlier.

Analysts, on average, were looking for earnings of 10 cents per share, according to Reuters Estimates.

Total revenue slipped to $392.8 million from $393.8 million.

Overall sales at restaurants open at least 18 months fell 3.4 percent, which is derived from a 3.2 percent decline sales at Cheesecake Factory and a 5 percent drop at the company's smaller Grand Lux chain.