Published on 30 Apr 2024 on Zacks via Yahoo Finance
Yum China (YUMC) Q1 Earnings and Revenues Surpass Estimates
Yum China Holdings, Inc. YUMC reported impressive first-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and the bottom line increased on a year-over-year basis. The upside can be attributed to robust total system sales growth and new unit contribution.
Earnings & Revenue Discussion
In first-quarter 2024, the company reported adjusted earnings per share (EPS) of 71 cents, beating the Zacks Consensus Estimate of 66 cents. The bottom line moved up 2.9% from 69 cents reported a year ago.Quarterly revenues of $2.96 billion outpaced the consensus mark of $2.94 billion. The top line inched up 1% on a year-over-year basis. Excluding foreign currency translation, revenues increased 7% year over year.