Yum! Down on Q2 Report Despite Strong International Growth

Yum! YUM shares are trending lower Wednesday following the food giant’s second quarter results.

The company reported sales for $3.2 billion for the quarter, slightly missing the $3.23 billion estimate. Year over year this is a 10.3 percent improvement. Sales growth was driven by a 21 percent increase in Chinese sales and 18 percent increase in India.

Other division highlights include five percent KFC growth, three percent Taco Bell growth and one percent Pizza Hut Growth.

Earnings beat the analyst consensus by 1.4 percent at $0.73 per share. Compared to the same quarter last year, EPS jumped 30.4 percent. Despite the sales increase, Yum! was actually able to decrease restaurant expenses and total expenses by eight percent each.

Related: Janney Sends McDonald's Down With Sales Estimate

Regarding cash returned to shareholders, the press release noted that 4.6 million shares were purchased at an average price of $76 for a total of $346 million.

Looking forward, CEO David Novak commented, “I’m confident we are building momentum behind major initiatives around the world that will sustain double-digit EPS growth in 2015 and beyond.”

Shares of Yum! last traded down 2.45 percent to $80.68.