Yum! Brands Inc. (NYSE: YUM) Wednesday reported lower earnings for the first quarter of 2020, despite a modest increase in revenues. The bottom-line also missed analysts’ forecast, driving the stock lower during the pre-market trading session.
Earnings, on an adjusted basis, dropped to $0.64 per share from $0.82 per share in the first quarter of 2019. Unadjusted profit was $83 million or $0.27 per share, compared to $262 million or $0.83 per share a year earlier.
Total revenues, meanwhile, edged up 1% annually to $1.26 billion. There was a 7% fall in worldwide same-store sales. The top-line came in above the estimates, while earnings missed.
After falling to a three-year low last month, Yum! Brands shares are currently regaining strength. The stock declined 14% since last year. It closed the last trading session slightly higher.
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