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Overseas sales let Yum beat profit forecasts

Yum Brands has over 40,000 restaurants around the world.
Associated Press
Yum Brands has over 40,000 restaurants around the world.
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Quarterly profit at Yum Brands, owner of KFC and Taco Bell, fell 4.7 percent to $321 million but beat estimates, thanks to higher sales abroad. Profit excluding some items was 86 cents a share; analysts forecast 79 cents. Revenue rose 0.6 percent to $4.18 billion. KFC has struggled in China but Yum is boosting sales in Russia, France, and other nations. Yum gets a quarter of its revenue abroad, and foreign sales rose 2 percent. In the past year, it opened stores in Tanzania, Ukraine, Argentina, and Mongolia. Yum reiterated its full-year forecast for at least a 20 percent gain in profit per share, excluding certain items.