Yum Brands posts 30 percent 4th-qtr profit rise
LOUISVILLE, Ky. (AP) — The owner of the Pizza Hut, Taco Bell and KFC chains says its fourth-quarter profit rose 30 percent, thanks to its fast-growing overseas operations and to a strong showing from Pizza Hut in the U.S.
Yum Brands Inc. said Monday that Taco Bell had another sluggish quarter in the U.S. The Mexican-style chain is struggling to regain momentum after publicity from a now-dropped lawsuit that questioned the beef content of its taco and burrito filling.
Yum, based in Louisville, Kentucky, earned $356 million, or 75 cents per share, for the quarter. That's compared to $274 million, or 56 cents per share, a year earlier. Revenue rose 15 percent to $4.1 billion.
Analysts expected profit of 74 cents per share on revenue of $4.04 billion.
The shares rose after hours.