Yum Brands' shares rise on profit, outlook |
| MarketWatch - Oct 9, 2007 |
Shares of fast-food restaurant operator Yum Brands Inc. rose more than 5% in early trading Tuesday, moving higher in the wake of its latest profit report and an upwardly revised forecast.
Late Monday, Yum reported a 17% gain in third-quarter profit, helped by strong overseas growth particularly in China, and raised its full-year outlook.
Net income for the three months ended Sept. 8 came in at $270 million, or 50 cents a share, compared with $230 million, or 42 cents a share, for the same period a year ago.
Sales generated by the Louisville, Ky.-based restaurant operator were $2.56 billion, up from last year's $2.28 billion. Quarterly revenue at outlets open more than a year, the industry benckmark known as same-store sales, climbed 4% worldwide.
Read Full Article from MarketWatch
- Posted: 2007-10-09 10:13:35
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