Yum Brands earnings miss estimates as Pizza Hut, KFC sales disappoint [CNBC]
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Source: CNBC
Shares of the company fell 3% in premarket trading. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Earnings per share: $1.15 adjusted vs. $1.20 expected Revenue: $1.6 billion vs. $1.71 billion expected Yum reported first-quarter net income of $314 million, or $1.10 per share, up from $300 million, or $1.05 per share, a year earlier. Excluding investment losses and other items, the company earned $1.15 per share. Net sales dropped 3% to $1.6 billion. Yum's global same-store sales also fell 3% in the quarter, missing StreetAccount estimates of 0.2% same-store sales growth. Across Yum's three largest brands, only Taco Bell reported same-store sales growth. The metric rose 1% during the quarter at the Mexican-inspired chain. Taco Bell's U.S. locations reported same-store sales growth of 2%, while its international business posted a decline of 2%. KFC's same-store sales fell 2% in the quarter. The bigge
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