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Taco Bell parent Yum Brands misses earnings estimates as higher costs weigh on profits

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Customers wearing Taco Bell foam taco hats exit the company’s restaurant, a unit of Yum! Brands Inc. in Bangkok, Thailand.
Brent Lewin | Bloomberg | Getty Images

Yum Brands on Wednesday reported mixed results for its fourth quarter as higher costs weighed on profits, leading to an earnings miss.

Shares of the company rose less than 1% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: $1.02 adjusted vs. $1.09 expected
Revenue: $1.89 billion vs. $1.88 billion expected

Yum reported fourth-quarter net income of $330 million, or $1.11 per share, down from $332 million, or $1.08 per share, a year earlier.

Excluding items, the company earned $1.02 per share, falling short of the $1.09 per share expected by analysts surveyed by Refinitiv.

Net sales rose 8% to $1.89 billion, topping expectations of $1.88 billion.

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