AP News

Darden 3Q profit falls but tops Street's view


MIXED SALAD: Darden Restaurants' third-quarter net income dropped 18 percent, as it dealt with soft sales at Red Lobster but the performance still beat Wall Street's expectations. Revenue rose 5 percent.

THE INGREDIENTS: Revenue at Red Lobster dropped 6 percent hurt by weaker sales at established U.S. restaurants. Revenue edged up at Olive Garden and climbed almost 7 percent at LongHorn Steakhouse.

PAYBACK: Darden's board also declared a quarterly dividend of 50 cents per share. The dividend will be paid on May 1 to shareholders of record on April 10.


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