UPDATE: Darden Q3 Profit Rises 8%

Darden Restaurants Inc

reported a rise in its third-quarter profit. Darden's quarterly earnings rose to $164.1 million, or $1.25 per share, from $151.2 million, or $1.08 per share, in the year-ago period. Its sales surged to $2.16 billion from $1.98 billion. However, analysts were expecting earnings of $1.24 per share on revenue of $2.15 billion. Sales at restaurants open at least 16 months climbed 2% in the same quarter. Darden continues to project earnings per share to rise by 4% to 7% in 2012. Darden's shares closed at $51.83 yesterday.