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Yum Brands’ quarterly profit beats estimates

Posted by: Admin | Posted on: May 3rd, 2017 | 0 Comments

Yum Brands Inc (YUM.N) reported a better-than-expected quarterly profit, boosted by strong demand at its Taco Bell restaurants.

The company’s income from continuing operations rose to $280 million, or 77 cents per share, in the first quarter ended March 31, from $226 million, or 54 cents per share.

Excluding items, the company earned 65 cents per share, beating the average analyst estimate of 60 cents per share, according to Thomson Reuters I/B/E/S.

Total revenue fell 1.8 percent to $1.42 billion.

(Reporting by Sruthi Ramakrishnan in Bengaluru and Lisa Baertlein in Los Angeles; Editing by Supriya Kurane and Saumyadeb Chakrabarty)

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