Yum posts profit of $362 million
Yum Brands Inc. reported first-quarter profit of $362 million.
The Louisville, Ky., company said it had profit of 81 cents a share. Adjusted for nonrecurring gains, earnings came to 80 cents a share. The results exceeded Wall Street expectations of 72 cents a share.
The parent company of KFC, Taco Bell and Pizza Hut posted revenue of $2.62 billion in the period, missing forecasts of $2.65 billion.
Yum shares rose 4.5% in after-hours trading after closing at $80.85.