
Yum China reported a significant surge in same-store sales growth of 97% in the latest quarter, driven by a rebound following extended Covid lockdowns. The company's revenue hit over $3 billion, surpassing estimates, and its earnings per share (EPS) reached $0.77, exceeding the expected $0.62. Yum China stock rose by 8% following the announcement. Despite these positive results, Yum China remains cautious about weak consumption trends. Meanwhile, other major food chains like Restaurant Brands and Yum! Brands faced challenges. Restaurant Brands, the owner of Burger King, reported slower-than-expected sales growth, with adjusted EPS of $0.93 missing the $0.95 estimate and revenue of $2.29 billion falling short of the $2.32 billion forecast. Yum! Brands, which includes Taco Bell, also reported disappointing results, with an adjusted EPS of $1.37 below the estimated $1.41 and revenue of $1.83 billion missing the $1.89 billion estimate. The company's worldwide comparable sales declined by 2%, more than the anticipated 0.21% drop.

Yum! Brands sales fell more than expected in the third quarter, with growth at Taco Bell unable to offset ongoing weakness at Pizza Hut and KFC https://t.co/zh60wNJAdm
Yum! Brands Reports Third-Quarter Results https://t.co/LeeyfObp7N https://t.co/EvHErU1tGD
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