Pursuits
Yum Profit Tops Estimates as Taco Bell Bolsters Sales
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Yum! Brands Inc., owner of the KFC and Pizza Hut dining chains, posted first-quarter profit that topped analysts’ estimates as new menu items helped Taco Bell’s domestic sales.
Net income fell 26 percent to $337 million, or 72 cents a share, from $458 million, or 96 cents, a year earlier, the Louisville, Kentucky-based company said yesterday in a statement. Excluding certain items, profit was 70 cents a share. Analysts estimated 60 cents, the average of 25 projections compiled by Bloomberg.