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Restaurant Brands posts 1Q profit of $117.5 million, result tops expectations

OAKVILLE, Ont. – OAKVILLE, Ontario (AP) _ Restaurant Brands International (QSR) on Thursday reported first-quarter net income of $117.5 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Oakville, Ontario-based company said it had net income of 21 cents. Earnings, adjusted for non-recurring costs, were 30 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.

The operator of Burger King and Tim Hortons restaurant chains posted revenue of $918.5 million in the period.

Restaurant Brands shares have risen 14 per cent since the beginning of the year. The stock has increased 4.5 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on QSR at http://www.zacks.com/ap/QSR

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Keywords: Restaurant Brands, Earnings Report