Yum! Brands Beats; Guidance Disappoints (YUM)
July 13, 2010 4:14 PM
Yum! Brands, Inc. (NYSE: YUM) reports Q2 earnings of $0.58 versus the Street estimate of $0.54. Yum! Brands reports Q2 revenue of $2.57 billion versus the Street estimate of $2.54 billion.
The Company raised its full-year 2010 EPS forecast from $2.39 to $2.43 per share or 12% growth prior to special items, based on strong first half performance. Their Full Year guidance is lower than the Street average of $2.48, which is why shares are sagging in the after-hours.
The company is also said that worldwide system sales growth was 4% including +15% in China, +4% in YRI, and +1% in the U.S. YUM is also reporting that they repurchased $115 million in stock, totaling $2.8 million shares at an average price of $40.
Shares of Yum! Brands, which closed the session higher by 2.06%, at $41.71, were trading lower in the after-hours by 3.62%, at $40.20
