Yum! Brands CEO Gibbs Highlights 8% Profit Growth Target Amid Mixed Q2 Results and Digital Sales Surge: Details
Portfolio Pulse from Nabaparna Bhattacharya
Yum! Brands, Inc. (NYSE:YUM) reported mixed Q2 results with adjusted EPS of $1.35 beating estimates but revenues missing expectations. Despite a 1% decline in same-store sales, the company saw a 4% revenue increase and a 10% rise in core operating profit. Digital sales surged to nearly $8 billion. CEO David Gibbs highlighted an 8% profit growth target and expansion in digital and AI technology.
August 06, 2024 | 2:42 pm
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Yum! Brands reported mixed Q2 results with adjusted EPS of $1.35 beating estimates but revenues missing expectations. Despite a 1% decline in same-store sales, the company saw a 4% revenue increase and a 10% rise in core operating profit. Digital sales surged to nearly $8 billion. CEO David Gibbs highlighted an 8% profit growth target and expansion in digital and AI technology.
The positive EPS and core operating profit growth, along with strong digital sales, are likely to boost investor confidence. The 8% profit growth target and advancements in digital technology further support a positive short-term outlook.
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