Yum! Brands, owner of KFC, Taco Bell and Pizza Hut, reported decreased second-quarter profit yesterday, but topped analysts’ estimates in the wake of a sales decline in China.
The Louisville, Ky.-based company’s net income was $281 million, or 61 cents per share, down 15 percent from $331 million, or 69 cents, during the 2012 quarter.
Revenue slipped 8 percent to $2.9 billion and shares edged down 31 cents to $72.36.