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Darden posts earnings of $1.21 a share vs $1.19 expected

An Olive Garden restaurant in New York.
Scott Mlyn | CNBC
An Olive Garden restaurant in New York.

Darden Restaurants on Tuesday posted third-quarter earnings and revenue that topped expectations.

Separately, the company announced that Chairman Jeffrey Smith, head of activist investor Starboard Value, has resigned from the company's board.

Smith was named Darden's chairman in 2014 after the investment firm ousted the company's entire board.

The parent of Olive Garden and LongHorn Steakhouse reported adjusted earnings of $1.21 a share, compared with analysts' estimates of $1.19 a share.

Revenue came in at $1.848 billion, slightly beating forecasts of $1.841 billion.

Same-store sales rose 6.2 percent in the quarter.

Darden also said it sees full-year adjusted earnings of $3.48 to $3.52 a share.

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Reuters contributed to this report.