Yum Brands crushed earnings
(Othermore)
Yum Brands, the parent company of Taco Bell and Kentucky Fried Chicken, announced earnings Wednesday and crushed expectations.
The company posted adjusted earnings of $0.95 per share against analyst expectations of $0.83 per share.
Revenue came in just a tiny bit below expectations at $2.62 billion versus analysts calls for $2.66 billion.
Additionally, the company raised its profit growth guidance to 12% growth in 2016 from 10%.
The company also posted comparable store growth of 2% worldwide and total sales growth of 5%.
In response, the stock jumped 5% in after-hours trading, before sliding down to a rise of around 3.75% as of 4:26 p.m. ET.
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