Yum China Holdings Misses on Q1 Revenue, Earnings
Yum China Holdings (NYSE: YUMC) released its fiscal 2020 first-quarter results after market close on Tuesday, revealing notable declines in its business due to the SARS-CoV-2 coronavirus outbreak.
The quarter saw the company reap the equivalent of $1.75 billion in revenue. Non-GAAP (adjusted) net income was $63 million, or $0.16 per share.
Those figures represented steep year-over-year declines, as the coronavirus brought the Chinese economy to a near-halt. Revenue was down 24% on the back of a same-store sales figure that fell 15%. Adjusted net profit saw a far more precipitous drop at 68%.
Source Fool.com
