YUM! Brands Jumps on Q2 Earnings Results

Shares of YUM! Brands YUM are moving higher in the after-hours following the release of the company's Q2 earnings results. Currently, shares are higher by 3.27%, trading at $57.40; they ended the regular session higher by 1.09%, trading at $55.58. YUM! Brands reported Q2 EPS of $0.66 on revenues of $2.82 billion. After a Special Items loss of $0.01, reported EPS was $0.65. The company also reported a 25% bump in operating profit in China, as well as 11% at Yum! Restaurants International. Worldwide system sales grew 3%, prior to foreign currency translation, including 28% in China and 6% at YRI. System sales in the U.S. declined 5%. Same-store sales grew 18% in China and 2% at YRI, and declined 4% in the U.S. David C. Novak, Chairman and CEO said, "I'm pleased to report we are raising our full year EPS growth forecast to at least 12% based on the continued strength of our international businesses. We delivered EPS growth of 13% in the second quarter as strong performance in China and other emerging markets, combined with the benefit of a lower tax rate, offset a very disappointing quarter in the U.S.” YUM! Brands, Inc. is a quick service restaurant company, with more than 37,000 units in more than 110 countries and territories. YUM through its five concepts of KFC, Pizza Hut, Taco Bell, Long John Silver's and A&W All-American Food Restaurants, the company develops, operates, franchises and licenses a worldwide system of restaurants, which prepare, package and sell a menu of competitively priced food items.