Burger King Parent Restaurant Brands Beats First-quarter Earnings Expectations

By Caitlin Huston Markets MarketWatch Pulse

Burger King and Popeyes Louisiana Kitchen parent Restaurant Brands International Inc. beat first-quarter earnings expectations. It reported net income of $50.2 million, or 21 cents per share, compared to $50 million, or 21 cents per share, in the year-earlier period. It reported adjusted earnings per share of 36 cents, above the FactSet consensus of 34 cents. Revenue was $1 billion, up from $918.5 million in the year-earlier period, and above the FactSet consensus of $967 million. Share of Restaurant Brands have gained 23% in past three months, compared to the S&P 500's gain of 4%.

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