KFC Parent Yum Meets Profit Forecast

Retail Reuters

KFC parent Yum Brands Inc reported a quarterly profit that met Wall Street's expectations, helped by another quarter of strong sales in China.

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China -- the world's fastest growing major economy -- is Yum's biggest earnings driver, accounting for just over 40 percent of overall profits.

Yum's third-quarter net income rose to $383 million, or 80 cents per share, from $357 million, or 74 cents per share, a year earlier.

Excluding special items, Yum's profit was 83 cents per share, matching analysts' average estimate, according to Thomson Reuters I/B/E/S.

Revenue rose to $3.27 billion billion from $2.86 billion a year earlier.

Shares in Yum, which closed at $49.44 on the New York Stock Exchange, rose 2.4 percent in extended trading. (Reporting by Lisa Baertlein; Editing by Richard Chang)

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