Yum China shares sink more than 4% following Q2 earnings

yum china shares sink more than following q earnings
Yum China shares sink more than 4% following Q2 earnings


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Yum China shares fall following release of second-quarter earnings

Shares of Yum China Holdings Inc. skidded in Wednesday’s extended session after the fast-food chain announced its quarterly earnings. The operator of KFC and Pizza Hut in China reported its second-quarter net income rose to $143 million, or 36 cents a share, from $125 million, or 31 cents a share, a year earlier. Revenue grew 12% to $2.1 billion while same-store sales slid 1% on the back of a 4% drop at Pizza Hut. Analysts surveyed by FactSet had forecast earnings of 33 cents on revenue of $2.1 billion. Yum China had spun off from Yum Brands at the end of 2016. Yum China shares slid 3.2% after hours.

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