Yum! Brands, Inc. (YUM) reported that its second-quarter net income increased to $331 million or $0.69 per share, from $316 million or $0.65 per share in the same quarter last year.
Earnings per share before special items were $0.67, up from $0.66 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.70 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter rose to $3.168 billion from $2.816 billion in the prior year quarter. Eighteen analysts had consensus revenue estimate of $3.12 billion for the quarter.
The company reconfirmed its full-year earnings per share growth forecast of at least 12%, or at least $3.22, excluding Special Items. Analysts expect the company to report earnings of $3.31 per share for fiscal 2012.
The company also raises new-unit forecast to a record 1,700 new international units for the year, including at least 700 new units in China.
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