BRIEF-Yum Brands Q1 Earnings Per Share $0.90 Excluding Items

Yum! Brands Inc:

* YUM! BRANDS REPORTS FIRST-QUARTER GAAP OPERATING PROFIT GROWTH OF 14%; FLAT FIRST-QUARTER CORE OPERATING PROFIT GROWTH; MAINTAINS ALL ASPECTS OF FULL-YEAR GUIDANCE

* Q1 GAAP EARNINGS PER SHARE $1.27

* Q1 EARNINGS PER SHARE VIEW $0.68 — THOMSON REUTERS I/B/E/S

* YUM BRANDS – QTRLY WORLDWIDE SYSTEM SALES EXCLUDING FOREIGN CURRENCY TRANSLATION GREW 4%, WITH KFC AT 6%, TACO BELL AT 4% AND PIZZA HUT AT 2%

* YUM BRANDS – RECORDED NET REFRANCHISING GAINS OF $156 MILLION IN SPECIAL ITEMS IN QUARTER

* YUM BRANDS QTRLY TOTAL REVENUES $1,371 MILLION, DOWN 3 PERCENT

* YUM BRANDS – IN QUARTER, REFLECTED CHANGE IN FAIR VALUE OF CO’S INVESTMENT IN GRUBHUB BY RECORDING $66 MILLION OF PRE-TAX INVESTMENT INCOME

* YUM BRANDS – ON FY BASIS, EXPECT NON-CASH IMPACTS OF ADOPTING NEW REVENUE RECOGNITION STANDARD TO NEGATIVELY IMPACT CORE OPERATING. PROFIT GROWTH BY 2-3 PERCENT PTS

* Q1 REVENUE VIEW $1.09 BILLION — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

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