Yum! Brands, Inc. Stock Surges on Earnings Beat

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Yum! Brands, Inc. (NYSE:YUM) stock was on the rise Thursday following an earnings beat for the third quarter of the year.

Yum! Brands, Inc. Stock Surges on Earnings Beat

During the third quarter of 2017, Yum! Brands, Inc. reported earnings per share of 68 cents. This is an increase over its earnings per share of 56 cents from the same time last year. It also just beat out Wall Street’s earnings per share estimate of 67 cents for the quarter.

Yum! Brands, Inc. reported revenue of $1.44 billion in its third quarter of the year. This is down from its revenue of $1.52 billion reported in the third quarter of 2016. However, it did still come in above analysts’ revenue estimate of $1.39 billion for the quarter and was a plus for YUM stock.

Yum! Brands, Inc. saw same-store sales growth increase for all of its restaurant divisions in the third quarter of 2017. This includes same-store sales increasing by 4% at KFC, 1% at Pizza Hut and 3% at Taco Bell.

Operating profit reported by Yum! Brands, Inc. in the third quarter of the year was $643 million. This is an increase over its operating profit of $398 million from the same period of the year prior.

Yum! Brands, Inc. reported net income of $418 million in the third quarter of 2017. The restaurant company reported net income of $640 million in the third quarter of the previous year.

Yum! Brands, Inc. reaffirmed its guidance for the full year of 2017 in its most recent earnings report. It is expecting global system sales growth of at least 5% and core operating profit to increase in the mid single digit range for the year.

YUM stock was up 6% as of noon Thursday and is up 24% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/11/yum-brands-stock-rises-on-q3-earnings/.

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