UPDATE: Burger King Posts Upbeat Q3 Profit, Declares Dividend

Burger King Worldwide

reported an 88% drop in its third quarter net income. Burger King's quarterly profit declined to $6.6 million, or $0.02 per share, versus $38.8 million, or $0.11 per share, in the year-ago quarter. Its adjusted earnings came in at $0.17 per share versus $0.16 per share. Its revenue fell to $451.1 million from $607.7 million. However, analysts were expecting a profit of $0.15 per share on revenue of $439.8 million. Burger King's comparable-store sales at constant currencies increased 1.4%. The company's board declared an initial quarterly dividend of $0.04 per share. Burger King shares fell 0.03% to $14.94 in after-hours trading.