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Yum earnings are out, and on the EPS line they’re a miss.
Earnings came in at 67 cents per share, which is weaker than the 70 cents that analysts had expected.
On the other hand, revenue of $3.17 billion was a hair ahead of expectations.
Same-store sales rose 7% in the US and 10% in China.
However, Yum China operating profits decline 4% excluding currency effects.
More to come in a moment.
ORIGINAL POST: Yum Brands is one of our favourite companies to watch to get a read the Chinese economy, since there are so many KFCs there.
The company also owns Pizza Hut and Taco Bell.
It’s also popular in other places around the world, so just generally it’s a company whose earnings we like to pay attention.
The company reports after the bell. Analysts expect to see 70 cents in earnings on revenue of $3.12 billion.