Signage is displayed outside a Yum! Brands Inc. Taco Bell and Kentucky Fried Chicken (KFC) restaurant in Louisville, Kentucky, U.S., on Thursday, Jan. 30, 2020.
Luke Sharrett | Bloomberg | Getty Images
Yum Brands on Wednesday reported quarterly earnings that topped analysts’ expectations, but its revenue missed estimates.
Shares of the company fell less than 1% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $1.41 adjusted vs. $1.24 expected
- Revenue: $1.69 billion vs. $1.75 billion expected
The restaurant company reported second-quarter net income of $418 million, or $1.46 per share, up from $224 million, or 77 cents per share, a year earlier.
Excluding refranchising gains and other items, Yum earned $1.41 per share.
Net sales rose 3% to $1.69 billion. The company’s same-store sales grew 9% in the quarter.
KFC’s same-store sales climbed 13%, fueled by returning demand in China, its largest market. KFC’s system sales in China soared 32%, while its U.S. system sales rose 5%.
