CKE Restaurants Inc. on Thursday reported a 31 percent increase in second-quarter net income as the fast-food chain cut operating costs. The results topped Wall Street’s expectations.

The Carpinteria-based operator of the Carl’s Jr. and Hardee’s chains said it earned $12.3 million (23 cents per share) in the quarter ended Aug. 11, compared to $9.4 million (15 cents) a year ago. Revenue fell 3 percent to almost $353 million.

The 53 percent increase in earnings per share was due to the company having 11 million fewer shares in the quarter than a year ago. Analysts surveyed by Thomson Reuters had expected 20 cents per share net income on just over $353 million in revenue.

The company said same-store sales rose 3.6 percent at company-operated restaurants in the quarter. Sales at the Carl’s Jr. restaurants rose 3.8 percent while sales at Hardee’s restaurants rose 3.3 percent.

In a separate announcement, CKE said same-store sales for the four weeks that ended Sept. 8 rose only 0.4 percent. The company said it believed heavy discounting by some competitors cut into its sales.

After closing down 11 percent on Wednesday, CKE shares were up 39 cents, or 3 percent, to $12.12 in morning trading on the New York Stock Exchange.