Darden Restaurants Posting Strong Gain On Better Than Expected Q2 Earnings

(RTTNews) - Shares of Darden Restaurants Inc. (DRI) have pulled back off their best levels of the day but continue to turn in strong performance in late-day trading on Tuesday. Darden is currently up by 5.2 percent, bouncing off its lowest closing level in nearly six months.

The rebound by Darden comes after the parent of Olive Garden and other chain restaurants reported slightly better than expected fiscal second quarter earnings. The company also raised its earnings outlook for fiscal 2019.

Darden reported second quarter earnings of $0.92 per share compared to analyst estimates of $0.91 per share, although its revenues of $1.97 billion came in just below expectations for $1.98 billion.