Yum Brands Inc. on Wednesday reported first-quarter net income of $326 million.
|YUM||YUM! BRANDS INC.||124.34||+0.07||+0.06%|
The Louisville, Kentucky-based company said it had profit of $1.07 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The parent company of KFC, Taco Bell and Pizza Hut posted revenue of $1.49 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $1.46 billion.
Yum shares have risen 7% since the beginning of the year, while the S&P's 500 index has risen 11%. The stock has increased 32% in the last 12 months.