LOUISVILLE, Ky. (AP) — Yum Brands Inc. (YUM) on Thursday reported fourth-quarter profit of $436 million.
The Louisville, Kentucky-based company said it had net income of $1.26 per share. Earnings, adjusted for non-recurring gains, came to 96 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.
The parent company of KFC, Taco Bell and Pizza Hut posted revenue of $1.58 billion in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $1.61 billion.
Yum shares have decreased nearly 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has increased 21 percent in the last 12 months.