Yum's 4Q net income down, adjusted net beats
Yum's 4th-quarter net income falls but adjusted results beat expectations
Associated Press
2014-02-04 06:42 AM

LOUISVILLE, Kentucky (AP) -- Yum Brand's fourth-quarter profit fell 5 percent due to one-time costs, but its adjusted results beat expectations as its KFC chain recovers from a series of setbacks in China.

Shares of the company, which also owns Pizza Hut and Taco Bell, rose 4 percent in aftermarket trading.

Yum has been trying to get its China performance back on track since it was hit by a poultry supply controversy a year ago.

For the quarter, Yum's net income fell to $321 million, or 70 cents per share, from $337 million, or 72 cent per share last year. Excluding a one-time charge, net income was 86 cents per share. Analysts expected 79 cents per share.

Revenue edged up 1 percent to $4.18 billion, short of the $4.26 billion predicted by analysts.

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