“Thursday's First Moves: DRI Earnings, Diller's Withdraws MGM Bid, P All-Time High”
Darden reported an earnings miss driven by weak Olive Garden sales, but remains a top pick in the sector.
Yes, it failed to meet expectations in terms of both revenue and net profit. Earnings came in at $2.05 per share on an adjusted basis, which was weaker than Wall Street analysts had expected.
Revenue also came in weaker than expected, at $3.2 billion. Analysts had expected $3.21 billion. There has been an increase in sales, but again it is weaker than expected.