Yum! Brands Posts Tasty Profit
Stock quotes in this article:
YUM
NEW YORK (TheStreet) -- China loves its Taco Bell, KFC and Pizza Hut.
Yum! Brands(YUM Quote), the operator of these chains, said its third-quarter profit grew 18%, boosted by the company's performance in China. Profit growth in China clocked in at a robust 32%. During the quarter, the company earned $334 million, or 69 cents a share, compared with $282 million, or 58 cents, in the year-ago period. Excluding one-time items, the company earned 70 cents a share, surpassing the 58 cents analysts expected. Revenue slipped 2% to $2.78 billion from $2.84 billion, while same-store sales tanked 6%. Looking ahead, Yum! raised its full-year guidance to $2.14 a shares from prior outlook of $2.10 due to stronger-than-expected performance in China and a lower-than-expected full-year effective tax rate. Shares of the company spiked 4% to $36.14 in after-market trading. -- Reported by Jeanine Poggi in New York Follow TheStreet.com on Twitter and become a fan on Facebook.- Loading Comments...
- Loading Comments...
Recent Comments
Featured Photo Galleries
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,501.05 | 1,114.11 | 2,212.10 | 35.46 |
Oil *
71.84
|
|
UP
29.55
|
UP
7.70
|
UP
21.79
|
UP
0.06
|
10 Yr
3.55%
SPDR Gold
110.24
|
|
+0.28%
|
+0.70%
|
+0.99%
|
+0.17%
|
Data delayed 20 minutes |














