Mubasher: Yum, the owner of the American fast food chain KFC, on Thursday posted a year-on-year rise in operating profits by 92% in the third quarter of 2017, while its revenues decreased and were lower than expectations.
The company, which owns international restaurant chains such KFC and Pizza Hut, achieved $418 million in profits in Q3-17, compared to $218 million in Q3-16.
Excluding items, Yum earned $0.68 per share, its data showed. Analysts, however, had projected $0.67 in earnings per share.
Yum’s revenues decreased by 5% to record $1.44 billion in Q3-17, compared to $1.51 billion in the same period last year.
Meanwhile, analysts’ expectations had denoted that the company’s revenues will decline to $1.387 billion.
By the end of Wednesday trades, Yum’s stock declined by 0.2% to $74.31.
