July 17, 2008
Yum! Brands Q2 Revenue Up
Yum! Brands, a quick service restaurant company, has reported total revenues of $2.65 billion for the second quarter ended June 14, 2008, a 12% rise, compared to $2.37 billion in the same period of 2007.
Net income stood at $224 million, or diluted earnings per share (EPS) of $0.45, compared to $214 million, or $0.39 per share. Worldwide same-store sales growth was 4%, including 14% in mainland China, 4% in Yum! restaurants international division, and 2% in the US (all figures are system-wide).For the first six months ended June 14, 2008, total revenues were $5.06 billion, an increase of 10%, compared to $4.59 billion in the same period of 2007. Net income was $478 million, or diluted EPS of $0.95, compared to $408 million, or $0.74 per diluted share.
David Novak, chairman and CEO of Yum! Brands, said: "The power of the global Yum! portfolio is most evident even in difficult times, and I'm pleased to report second-quarter EPS growth of 16%, excluding special items."