Pizza Hut, KFC, Taco Bell sales bounce as restrictions ease
Results beat Wall Street expectations
Yum Brands Inc. on Wednesday reported first-quarter net income of $326 million.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| YUM | YUM! BRANDS INC. | 135.26 | +1.07 | +0.80% |
The Louisville, Kentucky-based company said it had profit of $1.07 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
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The parent company of KFC, Taco Bell and Pizza Hut posted revenue of $1.49 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $1.46 billion.
Yum shares have risen 7% since the beginning of the year, while the S&P's 500 index has risen 11%. The stock has increased 32% in the last 12 months.