Yum China (NYSE: YUMC) reported Q1 EPS of $0.53, $0.05 better than the analyst estimate of $0.48. Revenue for the quarter came in at $2.2 billion versus the consensus estimate of $1.57 billion.

First Quarter Highlights

• Total revenues increased 15% year over year to $2.2 billion from $1.9 billion (6% year over year increase excluding foreign currency translation (\"F/X\")).
• Total system sales grew 6% year over year, with 9% growth at KFC partially offset by 1% decline at Pizza Hut, excluding F/X.
• Same-store sales grew 3% year over year, with an increase of 5% at KFC partially offset by a 5% decrease at Pizza Hut, excluding F/X.
• Restaurant margin was 17.9%, as compared with 20.4% in the prior year period.
• Operating Profit increased 33% year over year to $395 million from $296 million (22% year over year increase excluding F/X). Excluding Special Items, Adjusted Operating Profit was $297 million for the first quarter of 2018, as compared with $296 million in the prior year period (8% year over year decrease excluding F/X).
• Net Income increased 41% to $288 million from $204 million in the prior year period.
• Effective tax rate was 26.6%.
• Diluted EPS was $0.72, as compared with $0.52 in the prior year period. Excluding Special Items, Adjusted Diluted EPS was $0.53.
• Completed the acquisition of an additional 36% equity interest in an unconsolidated affiliate that operates KFC stores in Wuxi, China (\"Wuxi KFC\"), for cash consideration of approximately $98 million, bringing Yum China\'s equity interest in Wuxi KFC to 83%. A gain of $98 million was recorded from the re-measurement of our previously held equity interest.
• Opened 203 new restaurants during the quarter, bringing total store count to 8,112 across more than 1,200 cities.
• Online delivery contributed 16% to Company sales, up from 13% in the prior year period. Delivery services now available in 970 cities, up from 700 cities in the prior year period.
• As of March 31, 2018, the KFC loyalty program had more than 120 million members and the Pizza Hut loyalty program had over 40 million members.
• Mobile payment accounted for approximately 56% of Company sales in the first quarter of 2018, as compared to 31% in the prior year period.

For earnings history and earnings-related data on Yum China (YUMC) click here.