Qilai Shen | Bloomberg | Getty Images
Pedestrians walk past a Yum! Brands Inc. KFC restaurant in Shanghai, China
Yum Brands on Thursday reported earnings and revenue that topped analysts’ expectations.
The company, which owns brands KFC, Taco Bell and Pizza Hut, posted earnings excluding items of 68 cents a share on revenue of $1.45 billion.
Yum Brands had been expected to post earnings of 61 cents per share on $1.42 billion in revenue, according to Thomson Reuters estimates.
Net income from continuing operations fell to $206 million, or 58 cents per share, from $336 million, or 64 cents per share a year earlier.
Sales at restaurants open at least one year rose 2 percent in the second quarter ended June 30, higher than analysts’ expectations of 1.8 percent, according to StreetAccount.
While KFC and Pizza Hut exceeded same-store sales expectations, Taco Bell’s same-store sales fell short of analysts’ forecasts for 5.4 percent growth. The Mexican food chain said same-store sales rose 4 percent in the quarter.