Yum Brands rises after quarterly profit beat
BUZZ-Yum Brands rises after quarterly profit beat ** Shares of KFC parent Yum Brands YUM.N up about 2% at $160.50 premarket
** Co beats third-quarter profit estimates
** However, reports a wider-than-expected fall in quarterly same-store sales at its Taco Bell business after a cyclosporiasis outbreak in the US made customers wary of dining out at the Tex-Mex chain
** Quarterly adjusted profit per share of $1.56 vs estimates of $1.49
** Q3 same-store sales were flat compared to a year ago, missing expectations of a 0.9% rise - data compiled by LSEG
** Taco Bell's same-store sales fell 4% in the third quarter, missing analysts' expectations of a 0.9% drop
** "Since the end of September, Taco Bell US has been outpacing the QSR industry on same-store sales growth," says CEO Chris Turner
** "Cyclospora headwind will prove to be temporary," says RBC analyst Logan Reich
** As of last close, stock up ~4.2% YTD
(Reporting by Koyena Das from Bengaluru )
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