Taco Bell parent Yum Brands beats on earnings and revenue

Yum Brands Inc. shares rose 1.6% in Wednesday premarket trading after the global fast-food company beat first-quarter earnings and revenue expectations. Net income totaled $326 million, or $1.07 per share, up from $83 million, or 27 cents per share, last year. Revenue was $1.49 billion, up from $1.26 billion last year. The FactSet consensus was for EPS of 87 cents and revenue of $1.45 billion. Worldwide same-store sales grew 9%, with KFC up 8%, Pizza Hut up 12% and Taco Bell increasing 9%. The FactSet consensus was for global same-store sales growth of 8.3%. Yum is also the parent company to Habit Burger Grill, which had 13% same-store sales growth. Yum stock is up 7.2% for the year to date while the S&P 500 index has gained 11.5% for the period.

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