Yum! Brands, Inc. (NYSE:YUM) reported net income for the second quarter of $ 321.00 million or $ 0.97 per share, compared to income $ 206.00 million or $ 0.58 per share for the year-ago quarter.
The Louisville, Kentucky based company recorded second quarter adjusted earnings of $ 0.82 per share.
The total revenue for second quarter decreased 6% to $ 1.37 billion from $ 1.45 billion in the same quarter last year.
Analysts polled by Thomson Reuters expected YUM to report income of $ 0.74 per share on revenue of $ 1.36 billion for the second quarter.
Greg Creed, CEO, said, We continue to execute against our multi-year transformation strategy and remain on track with our full-year 2018 guidance. Second quarter core operating profit was consistent with our expectations and we are seeing good progress against our plans as we start the second half of the year. Importantly, I remain confident our actions to become more focused, more franchised and more efficient are establishing the foundation required for sustainable, long-term growth that will translate to strong returns for all Yum! Brands stakeholders.