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Yum Brands crushed earnings

Bob Bryan   

Yum Brands crushed earnings
Stock Market1 min read

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.

More to come...

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