LOUISVILLE, Ky. (AP) _ Yum Brands Inc. (YUM) on Wednesday reported first-quarter profit of $83 million.
The Louisville, Kentucky-based company said it had profit of 27 cents per share. Earnings, adjusted for one-time gains and costs, were 64 cents per share.
The results met Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of 64 cents per share.
The parent company of KFC, Taco Bell and Pizza Hut posted revenue of $1.26 billion in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $1.19 billion.
Yum shares have fallen 12% since the beginning of the year, while the Standard & Poor’s 500 index has declined 11%. The stock has dropped 15% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on YUM at https://www.zacks.com/ap/YUM
The Associated Press