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Burger King Revenue Declines While Profits Climb

|Includes:Restaurant Brands International Inc. (QSR)

Originally published at www.seclive.com

Burger King Worldwide, Inc. (BKW) reported a decrease in revenue while its profits climbed in its recent earnings announcement for the third fiscal quarter this year. Revenue fell 40% from a year ago to $275.1M, beating expectations of $267M while profit improved 32.7% to $81.1M and $0.23 earnings per share. The company's operating expenses fell 64% thanks to effective cost management and global refranchising efforts. CEO Daniel Schwartz commented that the company opened a net total of 133 stores worldwide while also rolling out the new French fry product Satisfries in the U.S. and Canada. Global comparable sales increased 0.9% and the company also announced a dividend increase in fourth quarter from $0.06 to $0.07 per share.

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Stocks: QSR