ORLANDO, Fla. (AP) — ORLANDO, Fla. (AP) — Darden Restaurants Inc. (DRI) on Thursday reported fiscal first-quarter net income of $194.5 million.
The Orlando, Florida-based company said it had profit of $1.59 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $1.78 per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.73 per share.
The owner of Olive Garden and other chain restaurants posted revenue of $2.73 billion in the period, which also topped Street forecasts. Eleven analysts surveyed by Zacks expected $2.7 billion.
Darden Restaurants expects full-year earnings in the range of $8.55 to $8.85 per share.