Yum Brands Inc. /zigman2/quotes/209029767/composite YUM +0.18% posted weaker-than-expected second-quarter earnings on Wednesday, and sales that fell short of forecasts, sending the stock lower premarket. The company had net income of $224 million, or 77 cents a share, for the quarter, down from $391 million, or $1.29 a share, in the year-earlier period. Revenue rose to $1.636 billion from $1.602 billion a year ago. The FactSet consensus was for EPS of $1.09 and revenue of $1.643 billion. The operator of Taco Bell, Pizza Hut and KFC restaurants said it completed the transfer of its Pizza Hut Russia business to a local operator in June and has removed Russia from unit count and system sales as of the start of the second quarter. The move stripped 1,112 KFC units in Russia from its global unit count, equal to 4% of units. Shares were down 0.9% premarket and have fallen 12% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.59% has fallen 14%.
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