Yum: 1Q net income falls 9%

Yum: 1Q net income falls 9%

Same-store sales continue to fall in China

Yum Brands Inc. reported a 9-percent decrease in net income during the first quarter ended March 21, as continued weakness in China offset strong results at Taco Bell and KFC, the company said on Tuesday.

Earnings per share excluding special items declined 8 percent, to 80 cents, falling from 87 cents in the first quarter a year ago. The results were still higher than Wall Street expected, and the company’s stock rose nearly 5 percent in after-hours trading.

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