Yum Brands reports 7 percent higher Q3 profit
LOUISVILLE, Ky. (AP) — The owner of the Pizza Hut, Taco Bell and KFC chains Tuesday said its third-quarter profit rose 7 percent as sales growth in international markets offset another decline in the U.S.
Yum Brands Inc., based in Louisville, Ky., earned $383 million, or 80 cents per share, for the quarter ending Sept. 3. That's up from $357 million, or 74 cents per share, a year earlier. Revenue rose 14 percent to nearly $3.3 billion.
Analysts expected adjusted earnings of 82 cents per share on revenue of $3.08 billion.
Operating profit in Yum's China operations rose 7 percent, adjusted for currency fluctuations. Yum added 138 restaurants in China during the quarter and expects to open a record 600 new units this year.
The company's operating profit fell 16 percent in the U.S.