NEW YORK -- Yum Brands topped key sales estimates during the third quarter on growth in its KFC and Taco Bell restaurants.
The results helped push shares higher in premarket trading Wednesday.
The Louisville, Kentucky-based company said profit rose 8.6 per cent to $454 million, or $1.40 per share. Excluding special charges and costs, Yum Brands earned $1.04 per share, topping analyst projections by 20 cents.
Revenue fell 3 per cent to $1.39 billion, but still beat Wall Street forecasts.
Overall same-store sales, a key measure for retailers, rose 2 per cent, matching expectations. The increase was driven by a 3 per cent rise in sales at KFC and a 5 per cent rise in sales at Taco Bell, both of which beat expectations.
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