Taco Bell parent earnings beat, fueled by strong demand for KFC

Asia's Tech News Daily

A Taco Bell restaurant in Laguna Beach, California.Scott Mlyn | CNBC

Yum Brands on Thursday reported quarterly earnings and revenue that topped analysts' expectations, fueled by strong demand for KFC's fried chicken.

Shares of the company rose less than 1% in premarket trading.

Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $1.22 adjusted vs. $1.08 expected
  • Revenue: $1.61 billion vs. $1.59 billion expected

The company reported fiscal third-quarter net income of $528 million, or $1.75 per share, up from $283 million, or 92 cents per share, a year earlier.

Excluding items, Yum earned $1.22 per share, beating the $1.08 per share expected by analysts surveyed by Refinitiv.

Net sales rose 11% to $1.61 billion, topping expectations of $1.59 billion.

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