BUSINESS BRIEFING / EARNINGS
Times Wire Reports
Yum Brands Inc., the owner of Pizza Hut, Taco Bell and KFC, said its profit rose 35% in its fiscal second quarter on strong growth overseas and increasing its ownership in its business in China.
The Louisville, Ky., company also touted what it called “dramatic results” from the launch of Kentucky Grilled Chicken at KFC.
Yum earned $303 billion, or 63 cents a share. That’s compared with $224 million, or 45 cents, earned a year earlier. Excluding special items, the fast-food chain operator earned 50 cents a share, beating analyst estimates of 43 cents a share.
Revenue fell about 7% to $2.5 billion.
