NEW YORK - Profit at Yum Brands tumbled nearly 40% in the second quarter, hurt by weak performance at its Pizza Hut chain.
Shares of Yum Brands Inc. fell 2% to $75 before the stock market opened on Thursday.
The Louisville - Kentucky company said sales fell 1% at established Pizza Hut locations.
However, Yum's other chains performed better: Taco Bell's sales rose 4% at established restaurants and sales at KFC rose 3%.
Overall, the company reported net income of $206 million or 58 cents per share, in the quarter ending June 30.
That's down from $336 million or 64 cents per share, in the same period a year ago.
Earnings, adjusted for non-recurring costs, were 68 cents per share, topping the 61 cents per share Wall Street analysts expected, according to Zacks Investment Research.
Revenue fell 4% to $1.45 billion, beating the $1.41 billion analysts expected.