Burger King parent company tops expectations as sales rise

IndustriesAssociated Press

The parent company of Burger King and Tim Hortons is reporting a better-than-expected quarterly profit after global sales climbed at established locations for both fast-food chains.

Comparable-store sales rose 6.7 percent at Burger King and 5.5 percent at Tim Hortons during the period.

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In the U.S. and Canada, Burger King's sales rose 7.9 percent in the three months ended June 30. McDonald's last week said sales fell 2 percent in the U.S.

Restaurant Brands opened an additional 141 Burger King locations around the world as well as another 52 Tim Hortons.

Restaurant Brands International Inc. earned $9.6 million, or 5 cents per share. Not including one-time items, it earned 30 cents per share.

Analysts expected 24 cents per share, according to FactSet.

Total revenue rose to $1.04 billion, also topping the $1.02 billion Wall Street expected.