ORLANDO, Fla. (AP) - Darden Restaurants Inc. on Thursday reported fiscal fourth quarter earnings of $208 million.
The Orlando, Florida-based company said it had profit of $1.67 per share. Earnings, adjusted for asset impairment costs and to account for discontinued operations, were $1.76 per share.
The results beat Wall Street expectations. The average estimate of 12 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 $2.23 billion in the period, which did not meet Street forecasts. Nine analysts surveyed by Zacks expected $2.24 billion.
For the year, the company reported profit of $713.4 million, or $5.69 per share. Revenue was reported as $8.51 billion.
Darden Restaurants expects full-year earnings to be $6.30 to $6.45 per share.
Darden Restaurants shares have climbed 18% since the beginning of the year, while the Standard & Poor’s 500 index has increased 17%.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DRI at https://www.zacks.com/ap/DRI
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