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The share price of Darden Restaurants Inc. (NYSE:DRI) is propelled 14.41% higher on the market opening today and scores its new high following better-than-expected second quarter of fiscal year 2025 report.
Darden Restaurants, Inc, the parent company of Olive Garden and Longhorn Steakhouse and other brands, operates more than 2,100 restaurants around the world.
In the second quarter of fiscal year 2025, the epicurean restaurant group managed to have its revenue of $2.89 billion exceeding analysts' expectation of just $2.87 billion. Its same-restaurant sales grew 2.4% mainly driven by Olive Garden and LongHorn Steakhouse.
In the same period, Darden reported its earnings at $2.03 per share just precisely meeting the analysts' expectation of earnings per share at $2.03 for Darden.
The result pushed the company to raise its full-year sales guidance for fiscal year 2025 to $12.1 billion surpassing analyst estimates. Darden's positive outlook gives an idea that the whole industry is reviving as casual diners are returning to restaurants.
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This article first appeared on GuruFocus.