Yum Brands Shares Rise After Earnings Beat

Yum Brands Inc. shares rose 1.6% in Wednesday premarket trading after the fast-food company reported first-quarter earnings that beat expectations. Net income was $280.0 million, or 77 cents per share, down from $364.0 million, or 54 cents per share, for the same period last year. Adjusted EPS was 65 cents, beating the 59-cent FactSet consensus. Revenue was $1.42 billion for the quarter, down from $1.44 billion last year and ahead of the $1.38 billion FactSet consensus. Same-store sales at Taco Bell grew 8% for the quarter; KFC same-store sales were up 2%; and Pizza Hut's same-store sales fell 3% for the period. Global same-store sales rose 2%. Yum Brands shares are up 15.7% for the past year while the S&P 500 index is up 15.9% for the last 12 months.