Taco Bell parent Yum Brands Inc. shares /zigman2/quotes/209029767/composite YUM -2.11% jumped 3.5% in premarket trade Thursday, after the company beat earnings estimates for the third quarter. Louisville, Ky.-based Yum posted net income of $528 million, or $1.75 a share, for the quarter, up from $283 million, or 92 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.22, ahead of the $1.08 FactSet consensus. Revenue climbed 11% to 1.606 billion from $1.448 billion a year ago, also ahead of the $1.590 billion FactSet consensus. Same-restaurant sales rose 5%, below the FactSet consensus for 5.8%. System sales rose 11% at KFC, were up 8% at Taco Bell and up 4% at Pizza Hut. Shares have gained 16% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -2.27% has gained 21%.
An earlier version of this report included same-restaurant sales numbers for the individual groups, instead of system sales. It has been corrected.