Yum Profit Falls as Expenses Mount

Yum Brands Inc., operator of the KFC and Pizza Hut fast-food chains, said first-quarter earnings fell 5.6% because of higher expenses.

Net income fell to $117 million, or 39 cents a share, from $124 million, or 40 cents, a year earlier. Revenue rose 12% to $1.8 billion.

Shares of Louisville, Ky.-based Yum rose 95 cents to $24.35 in after-hours trading after dropping 70 cents to $23.40 on the New York Stock Exchange.