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Yum meets 3Q profit forecasts

LOUISVILLE, Ky. – LOUISVILLE, Ky. (AP) _ Yum Brands Inc. (YUM) on Wednesday reported third-quarter net income of $622 million.

The Louisville, Kentucky-based company said it had profit of $1.56 per share. Earnings, adjusted for pretax gains, came to $1.09 per share.

The results met Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was also for earnings of $1.09 per share.

The parent company of KFC, Taco Bell and Pizza Hut posted revenue of $3.32 billion in the period, which missed Street forecasts. Eight analysts surveyed by Zacks expected $3.52 billion.

Yum shares have climbed 21 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen roughly 6 per cent. In the final minutes of trading on Wednesday, shares hit $88.62, a climb of roughly 7 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 YUM at http://www.zacks.com/ap/YUM

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Keywords: Yum Brands, Earnings Report, Priority Earnings