Wendy's Beats Forecast, Shares Sizzle

ATLANTA (TheStreet) -- Wendy's/Arby's(WEN Quote) posts third-quarter profit that matches Wall Street's forecast, sending shares up in morning trading.

During the quarter, the company earned $14.7 million, or 3 cents a share. Excluding after-tax special charges, however, the fast-food chain actually earned 6 cents a share, in-line with analysts' estimates.

Figures for the third-quarter last year are not comparable, as Arby's bought Wendy's in September of last year.

Revenue was $903.2 million, missing analysts' forecasts of $916.5 million. Same-store sales tanked 9% at Arby's, while Wendy's slipped 0.1%, hurt by the elimination of its breakfast menu.

Arby's owner Triarc bought Wendy's for $2 billion in September 2008.

The company also said it is looking into international development and could potentially open more than 8,000 locations outside of North America.

Shares of the joint company are rising 3.1% to $4.29.

Last week, rival Burger King(BKC Quote) reported a 6% slip in its third-quarter profit, missing analysts expectations. The King's CEO John Chidsey said he anticipates "the unpredictable consumer environment will persist" in the 2010 fiscal year.

McDonald's(MCD Quote), on the other hand, was the clear winner of the group, posting both profit growth and a jump in same-store sales.

-- Reported by Jeanine Poggi in New York

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