Yum! Brands (YUM) shares edge higher after topping earnings expectations
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Go back to Yum! Brands (YUM) shares edge higher after topping earnings expectations
February 8, 2023 7:04 AM EST
By Deborah Mary Sophia and Hilary Russ
(Reuters) -Yum Brands Inc beat Street estimates for quarterly sales and profit on Wednesday, as strong demand for wallet-friendly meals at its Taco Bell restaurants helped offset weaker growth in its Pizza Hut and KFC chains.
Taco Bell's $2 burritos and $1.49 breakfast offerings attracted more low-income consumers looking for cheaper options amid decades-high inflation, while wealthier customers looking to save also increased orders from Yum's outlets.
"We are seeing higher-income customers coming more frequently. And some of that is no doubt due to trade down into our brands," Yum's Chief... More
February 8, 2023 7:02 AM EST
Yum! Brands (NYSE: YUM) reported Q4 EPS of $1.31, $0.05 better than the analyst estimate of $1.26. Revenue for the quarter came in at $2.02 billion versus the consensus estimate of $1.92 billion.
For earnings history and earnings-related data on Yum! Brands (YUM) click here.
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