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While KFC and Pizza Hut disappointed, Taco Bell reported same-store sales growth in the US.
Shares in Yum! Brands Inc (NYSE:YUM) rose after the KFC, Pizza Hut and Taco Bell owner served up second-quarter earnings that beat Wall Street forecasts, but revenues were lower than expected.
Yum! Brands (YUM) shares rose in intraday trading Tuesday despite second-quarter sales and net income falling slightly short of estimates, as executives said the company is encouraged by the performance of Taco Bell as consumers look to get value for their money.
As Yum Brands aims to be a “leading global digital restaurant company,” per CEO David Gibbs, the quick-service restaurant (QSR) giant is tapping its tech acquisitions to create a unified eCommerce ecosystem on which to layer artificial intelligence (AI) capabilities to drive sales and productivity.
YUM! Brands' (YUM) second-quarter 2024 results reflect strong performance from the Taco Bell and KFC divisions. Yet, increased expenses and unfavorable foreign currency translation marred prospects to some extent.
U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 250 points on Tuesday.
While the top- and bottom-line numbers for Yum (YUM) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Shares in Yum! Brands Inc (NYSE:YUM) rose after the KFC, Pizza Hut and Taco Bell owner served up second-quarter earnings that beat Wall Street forecasts, but revenues were lower than expected.
Yum Brands (YUM) came out with quarterly earnings of $1.35 per share, beating the Zacks Consensus Estimate of $1.32 per share. This compares to earnings of $1.41 per share a year ago.
Yum Brands reported revenue that fell short of expectations for the second quarter. The restaurant company owns Taco Bell, KFC and Pizza Hut.