Yum! Brands, Inc. (NYSE:YUM) has already risen by more than four percent in after hours trading. The company released its earnings report for the firm’s third fiscal quarter this afternoon, after the close of the market.
After the bell, the company announced that during the most recent quarter it had earned around 99 cents per share. In the same period last year, the firm earned 83 cents per share. The year over year increase, of approximately 19% has bolstered investor’s confidence in the company.
In the same three months, the company took in revenues totaling $3.6 billion over the three months. That number is an increase of around 9% over the same period for last year’s takings.
The company is reportedly doing better on increased sales in China, as well as stronger domestic consumption in the United States. Yum! Brands, Inc. (NYSE:YUM) is based in Kentucky. The firm operates many of America’s most iconic fast food restaurants. These include Pizza Hut, KFC, and Taco Bel.
Analysts had expected the company to earn 97 cents per share, on revenue of around $3.6 billion. The company’s excellent performance, coupled with the better than expected results from Alcoa Inc. (NYSE:AA) at the same time, have added some optimism to the market, as the entire investment world heads into another earnings season.
The good news from the Chinese market may not be all that solid for the fast food company. Operating profit increased in the Chinese market by around 22% during the quarter, but only when currency fluctuations are removed. Without the buffer that brings, the company actually made less money in the Chinese market in this quarter, than it did in the same quarter last year.
Yum! Brands, Inc. (NYSE:YUM) will hopefully become an average performance in this earnings season. The performance of the large companies in this month’s reports may have a hand in deciding who takes to the White House in November.