LOUISVILLE, Kentucky–Yum Brands Inc. (YUM) on Tuesday reported third-quarter earnings of US$404 million.
The Louisville, Kentucky-based company said it had profit of 89 cents per share. Earnings, adjusted for non-recurring gains, were 87 cents per share.
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.
The parent company of KFC, Taco Bell and Pizza Hut posted revenue of US$3.35 billion in the period, which did not meet Street forecasts. Analysts expected US$3.46 billion, according to Zacks.
Yum shares have declined almost 8 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 5 percent. In the final minutes of trading on Tuesday, shares hit US$69.73, a decrease of slightly more than 2 percent in the last 12 months.