FILE PHOTO: A Kentucky Fried Chicken (KFC) logo is pictured on a sign in North Miami Beach, Florida, U.S. April 6, 2017. REUTERS/Carlo Allegri
(Reuters) – Yum Brands Inc beat analysts’ estimates for quarterly sales at established outlets on Wednesday, as strong growth at its KFC chain made up for another weak performance at Pizza Hut.
Sales at restaurants open for at least a year rose 4 percent in the first quarter, beating analysts’ average estimate of a 2.66 percent increase, according to Refinitiv IBES estimates.
Yum’s net income fell to $262 million, or 83 cents per share, in the three months ended March 31 from $433 million, or $1.27 per share, a year earlier.
Reporting by Nivedita Balu and Aishwarya Venugopal in Bengaluru; Editing by Anil D’Silva