Shares drop for owner of Olive Garden restaurants despite better-than-expected second-quarter earnings and revenue.
Darden Restaurants Inc. beat analyst estimates for profit and revenue on Friday, but the results failed to lift the stock price.
Darden DRI said its fiscal second-quarter profit fell to $187.2 million, or $1.52 a share, from $193.2 million, or $1.48 a share, in the year-ago quarter. Darden now expects 2023 earnings of $7.60 to $8 a share, compared with the analyst estimate of $7.73 a share.
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