Yum! Misses Q3 Street Earnings Estimates, Soft China Sinks Sales

Yum! Brands posted third quarter earnings of $0.87 a share ex-items on revenue of $3.35 billion. Wall Street analysts were looking for $0.88 on sales of $3.48 billion. Last year, Yum! Brands earned $0.85 per share on revenue of $3.47 billion. As for details, worldwide system sales grew 1% while worldwide operating profit decreased 12%. Total international development was 400 new restaurants with 77% of this development having occurred in emerging markets. China sales declined 9%, as 6% unit growth was offset by a 14% same-store sales decline. TheStreet's Gregg Greenberg has details from New York.