It was not a good day for Yum Brands (YUM), who saw a massive earnings miss result in a big dive on the stock market.
The big failure for Yum — the parent company of KFC, Taco Bell, and Pizza Hut — came in China, where same-store sales rose just 2%. Expectations were that sales in the country would rise by closer to 10% in a bounceback from a supplier scandal last year, reported CNBC.
Earnings per share ended up at $1, up from $0.87 but not meeting the analyst expectation of $1.07. Revenues were $3.43 billion versus an expected $3.67 billion.
Shares are tanking in the aftermath of the bad report, with prices down as much as 18% in after-hours trading.