ORLANDO, Fla. (AP) — ORLANDO, Fla. (AP) — Darden Restaurants Inc. (DRI) on Thursday reported fiscal fourth-quarter net income of $308.1 million.
The Orlando, Florida-based company said it had net income of $2.57 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $2.65 per share.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2.62 per share.
The owner of Olive Garden and other chain restaurants posted revenue of $2.96 billion in the period, which missed Street forecasts. Eleven analysts surveyed by Zacks expected $2.98 billion.
Darden Restaurants expects full-year earnings to be $9.40 to $9.60 per share, with revenue in the range of $11.8 billion to $11.9 billion.
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