Yum posts profit beat, raises 2011 estimate

KFC parent Yum Brands Inc (YUM.N) raised its full-year earnings forecast after China helped deliver quarterly earnings for the company that topped Wall Street's forecast.

Yum shares rose 2.2 percent after hours.

Yum, based in Louisville, Kentucky, has more than 4,000 restaurants, mostly KFC outlets, in China. It is the largest Western restaurant brand in China, with far more restaurants than rivals like McDonald's Corp (MCD.N) and Starbucks Corp (SBUX.O).

Based on strength in China and other international markets, Yum raised its full-year earnings per share growth forecast to at least 12 percent from at least 10 percent previously.

Investors said the boost was a signal of confidence from Yum management.

Read Full Article from Reuters

- Posted: 2011-07-13 20:35:26

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