Yum Brands quarterly earnings top expectations
Greg Creed, CEO, Yum Brands
Scott Mlyn | CNBC
Yum Brands on Wednesday reported quarterly earnings that beat analysts’ expectations.
Shares of the company were up 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: 82 cents, adjusted, vs. 81 cents expected
- Revenue: $1.25 billion, matching expectations
- Same-store sales: up 4%, vs. 2.66% increase expected
Taco Bell’s parent company reported fiscal first-quarter net income of $262 million, or 83 cents per share, down from $433 million, or $1.27 per share, a year earlier.
Excluding items, Yum earned 82 cents per share, topping the 81 cents per share expected by analysts surveyed by Refinitiv.
Net sales dropped 9% to $1.25 billion, in line with expectations.