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SHANGHAI (AP) — SHANGHAI (AP) — Yum China Holdings Inc. (YUMC) on Tuesday reported first-quarter net income of $289 million.
On a per-share basis, the Shanghai-based company said it had net income of 68 cents. Earnings, adjusted for non-recurring costs, were 69 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The restaurant operator in China posted revenue of $2.92 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $2.83 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a YUMC">Zacks stock report on YUMC at https://www.zacks.com/ap/YUMC