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%.

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Source Fool.com