Shares of Yum! Brands (YUM) - Get Report were rising in trading Thursday after the parent company of KFC, Pizza Hut and Taco Bell reported second-quarter top- and bottom-line results that topped analysts' expectations.
The company reported earnings of $289 million, or 93 cents a share on an adjusted basis, on revenue of $1.31 billion. Analysts were expecting the company to report earnings of 87 cents a share on revenue $1.28 billion.
"Our commitment to being a more focused, more franchised, and more efficient growth company positions us well for long-term success. Through the lens of our four growth drivers, we continue to leverage our unprecedented scale and expand our capabilities with the goal of enhancing franchise economics, accelerating growth and maximizing shareholder value," said CEO Greg Creed.
The company reported same-store sales growth of 5% in the second quarter, topping analysts' growth expectations of 3%.
The company also touted its growth during the quarter as its KFC division opened 331 new restaurants in 54 countries, Pizza Hut opened 221 restaurants in 42 countries, and Taco Bell opened 55 restaurants in 12 countries.
The stock was up 4.44% to $117.52 in trading.
Save 76% with our Summer Break Sale. Subscribe to our premium site Real Money and become a smarter investor! Click here today to sign up!