Burger King Parent Restaurant Brands Misses Profit, Revenue Estimates

By Ciara Linnane Markets MarketWatch Pulse

Restaurant Brands International Inc. said Wednesday it had net income of $89.5 million, or 37 cents a share, in the second quarter, down from $90.9 million, or 38 cents a share, in the year-earlier period. Adjusted per-share earnings came to 51 cents, below the FactSet consensus of 59 cents. Revenue rose to $1.13 billion from $1.04 billion, also below the FactSet consensus of $1.51 billion. Same-store sales at the company's Burger King restaurants rose 3.9%, while same-store sales at Tim Horton's fell 0.7%. Same-store sales at Popeyes fell 2.7% in the quarter. Shares were not yet active premarket, but have gained 24% in 2017, while the S&P 500 has gained 10.6%.

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