Yum Brands Shares Jump Following Increased Guidance
Shares of Yum Brands (NYSE: YUM), the owner of the KFC, Pizza Hut and Taco Bell brands, soared 3.6 percent in Tuesday's after-hours session after the company raised its full-year EPS growth forecast by at least 13 percent to $3.24 a share. The company gave guidance of $3.24-$3.26 a share for the full year.
The company reported a third-quarter profit of $0.99 a share on revenue of $3.57 billion. Analysts expected a profit of $0.97 a share on revenue of $3.64 billion. Same-store sales in China rose six percent compared with the consensus estimate of six percent. Same-store sales in the U.S. increased six percent compared with the estimate of 4.4 percent.
Shares of Kentucky-based Yum are up almost 13 percent year-to-date.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.