Yum Brands shares fell as much as 12% in after-hours trading on Tuesday after the company reported earnings below expectations, and cut its outlook for sales.
“While it remains difficult to forecast China sales, we are now estimating full-year same-store sales to be low-single-digit negative,” the fast-food giant said in its earnings statement.
The company reported adjusted earnings per share of $US0.1, versus the estimate for $US1.06 according to Bloomberg. Revenues came in at $US2.97 billion, versus $US3.67 expected.
The stock is up 14% year-to-date.
More to come …