Yum China Shares Jump On Strong Quarterly Earnings

By Sue Chang Markets MarketWatch Pulse

Shares of Yum China Holdings Inc. rallied in Wednesday's extended session after the fast-food chain company posted better-than-expected quarterly results. The operator of KFC and Pizza Hut in China reported its first-quarter earnings rose to $175 million, or 44 cents a share, from $145 million, or 40 cents a share, a year earlier. Revenue, however, slipped to $1.28 billion from $1.3 billion while same-stores sales grew 1%. Yum China had spun off from Yum Brands late last year. Analysts surveyed by FactSet had forecast earnings of 38 cents on revenue of $1.27 billion. Yum China shares jumped 11% while Yum rose 1.5% after hours.

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