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Stock impact report

Yum China shares slump 7% as company beats profit forecasts [MarketWatch]

Yum China Holdings, Inc. (YUMC) 
Last yum china holdings, inc. earnings: 4/28 04:30 pm Check Earnings Report
US:NYSE Investor Relations: ir.yumchina.com
Company Research Source: MarketWatch
Yum China shares slump 7% as company beats profit forecasts Shares of Yum China Holdings Inc. YUMC, -0.68% fell 7% late Tuesday after the fast-food company, a licensee of KFC, Pizza Hut, and Taco Bell in China as well as owning other restaurant brands, reported first-quarter profit above Wall Street expectations and narrowly missing on sales forecasts. Yum China, spun off Yum Brands Inc. YUM, -0.53% in 2016, said it earned $288 million, or 72 cents a share, in the quarter, compared with $204 million, or 52 cents a share, in the prior-year period. Revenue rose 15% to $2.2 billion, compared with $1.9 billion a year ago. Analysts polled by FactSet had expected earnings of 53 cents a share on sales of $2.4 billion for the quarter. Yum China said its same-store sales rose 3.3%, led by a 5% increase at KFC. As of March 31 its loyalty program for KFC has more than 120 million members and its loyalty program for Pizza Hut has 40 million members, it said. Show less Read more
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