Shares Of Yum China Drop Following Second-quarter Results

By Sue Chang Markets MarketWatch Pulse

Shares of Yum China Holdings Inc. fell in Wednesday's extended session after the fast-food chain posted in-line earnings but flat revenue growth. The operator of KFC and Pizza Hut in China reported its second-quarter earnings rose to $107 million, or 27 cents a share, from $77 million, or 21 cents a share, a year earlier. Revenue, however, remained at $1.59 billion while same-stores sales grew 3%. Analysts surveyed by FactSet had forecast earnings of 27 cents on revenue of $1.6 billion. Yum China had spun off from Yum Brands late last year. Yum China shares slid 5% while Yum edged down 0.3% after hours.

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