Yum! Brands Inc., owner of the KFC and Pizza Hut restaurant brands, said first-quarter profit rose 73 percent as new menu items at the Taco Bell chain helped U.S. same-store sales rebound.
Net income climbed to $458 million, or 96 cents a share, from $264 million, or 54 cents, a year earlier, the Louisville, Kentucky-based company said today in a statement. Profit excluding certain items was 76 cents a share. Analysts projected 73 cents, the average of 22 estimates compiled by Bloomberg.