Darden Beats Profit Estimates, Updates Outlook
Shares of Darden Restaurants were higher Tuesday after posting better-than-expected earnings and raising its guidance for the full year.
Shares of Darden Restaurants (DRI) - Get Report were higher Tuesday after posting better-than-expected earnings and raising its guidance for the full year. The owner of Olive Garden and LongHorn Steakhouse reported earnings of $0.88 a share, six cents ahead of estimates. Revenue of $1.71 billion was just below Wall Street's forecast. Overall same-restaurant sale rose 1.3% during the period, while same-restaurant sales at Olive Garden increased about 2%. Darden also updated its 2017 outlook. It now expects earnings to be between $3.87 and $3.97 a share, which is higher than its previous outlook.
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