Shares of Olive Garden parent Darden jump after earnings, revenue beat

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Darden Restaurants on Thursday reported quarterly earnings and revenue that topped analysts’ expectations.

Shares of the company rose 3 percent in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $1.80, adjusted, vs. $1.75 expected
  • Revenue: $2.25 billion vs. $2.24 billion expected
  • Same-store sales growth: 2.8 percent vs. 2.2 percent expected

Olive Garden’s parent company reported fiscal third-quarter net income of $223.6 million, or $1.79 per share, up from $217.8 million, or $1.73 per share, a year earlier.

Excluding items, Darden earned $1.80 per share, beating the $1.75 per share expected by analysts surveyed by Refinitiv.

Net sales rose 5.5 percent to $2.25 billion, topping expectations of $2.24 billion.

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