YUM Brands Beats Earnings After Hours Trading Video

http://www.StockMarketFunding.com YUM Brands Beats Earnings After Hours Trading Video Yum! Brands (YUM) Wall Street Earnings Preview Near 52 Week High.

YUM! Brands beats by $0.05, beats on revs; raises FY11 EPS growth, in-line (55.58 +0.60)
Reports Q2 (Jun) earnings of $0.66 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $0.61; revenues rose 9.4% year/year to $2.82 bln vs the $2.7 bln consensus. Co raises FY11 EPS growth guidance to "at least 12%" from at least 10% vs. the +12.1% consensus, or "at least $2.83" vs. $2.84 Capital IQ Consensus Estimate. Operating profit grew 25% in China and 11% at Yum! Restaurants International, prior to foreign currency translation. Operating profit declined 28% in the U.S., resulting in a Worldwide operating profit decline of 2%, prior to foreign currency translation. Worldwide operating profit increased 3% after foreign currency translation. Worldwide system sales grew 3%, prior to foreign currency translation, including 28% in China and 6% at YRI. System sales in the U.S. declined 5%. Strong international development continued with 241 new restaurants opened, including 99 new units in China. Same-store sales grew 18% in China and 2% at YRI, and declined 4% in the U.S. Worldwide restaurant margin declined 0.6 percentage points to 15.9%. "Our outstanding international results were offset by a 28% decline in U.S. profits, driven by higher commodity costs and a 4% decline in same-store sales. As previously communicated, we anticipated weak second quarter sales and profits, driven largely by the negative impact of a meritless lawsuit and resulting negative publicity at Taco Bell. We expect to improve on these very disappointing results by the fourth quarter. For the full year, we expect strong performance from both China and YRI as well as the benefit from foreign currency translation to overcome a challenging year in the U.S."

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