Why Yum Brands' Stock Is Trading Higher Today

Yum Brands Inc YUM is trading higher after the company announced better-than-expected financial results. 

Yum Brands reported second-quarter earnings of $1.16 per share, which beat the estimate of 95 cents per share. The company reported quarterly revenue of $1.6 billion, which beat the estimate of $1.48 billion.

“Our strong second-quarter results, led by record unit development and 23% same-store sales growth are a testament to our iconic brands, world-class talent, and best-in-class franchisees. I’m proud that each of our divisions reported positive same-store sales growth on a 2-year basis, a step up from first-quarter trends," said David Gibbs, CEO of Yum Brands.

Yum Brands is a restaurant operator featuring a portfolio of brands including KFC, Pizza Hut and Taco Bell.

Price Action: Yum Brands is making a new 52-week high in trading today.

At last check Thursday, the stock was up 5.25% at $129.05.