Orlando, Fla. — A comeback at the once struggling Italian eatery has helped Darden Restaurants serve up a positive earnings report to investors.
Olive Gardens same-store sales grew 4.4 percent last quarter compared to the same quarter a year ago, marking the fourth straight quarter of better-than-expected gains.
Olive Gardens performance helped parent company Darden Restaurants earnings grow by 5.8 percent to $148.8 million.
Sales at LongHorn Steakhouse, Darden’s second largest brand, were up 3.5 percent.
Overall, Dardens revenue grew 8 percent to $1.93 billion as same restaurant sales grew 3.3%.
Darden (DRI) shares rose 4.1% to 93.80 in early afternoon trade Tuesday. Shares closed 1.5% higher Monday.
The Orlando based company also raised its quarterly dividend by 12.5% to 63 cents a share.