UPDATE: Darden Restaurants Reports 28% Decline In FQ2 Net Income

Darden Restaurants Inc (NYSE: DRI) reported a 28% drop in its fiscal second-quarter net income.

Darden Restaurants' quarterly earnings fell to $53.7 million, or $0.40 per share, from $74.5 million, or $0.53 per share, in the year-ago period. Its profit from continuing operations came in at $0.41 per share. Darden Restaurants' shares outstanding dropped 5.7% to 133.2 million. Its sales climbed to $1.83 billion from $1.73 billion. However, analysts were expecting earnings of $0.42 per share on sales of $1.83 billion.

Darden Restaurants shares gained 1.12% to $44.23 at 9:32 am.