Originally published at www.seclive.com
Burger King Worldwide, Inc. (BKW) announced its financial results for the second fiscal quarter of 2014, posting earnings results that beat analyst expectations. The global fast-food chain saw revenue decline 6.1% from $278.3M to $261.2M, missing analyst expectations of $262.2M. Net income rose from the year-ago $62.9M and $0.18 per share to $75.1M and $0.21 per share, while adjusted earnings per share increased from $0.21 to $0.25. Burger King beat analyst expectations of $0.23 adjusted earnings per share. Net restaurant growth was 4.8% to 131, while overall operating costs fell close to 25%. CEO Daniel Schwartz commented that the company expects the strong results to continue, thanks to the consistent efforts of its franchisees and employees.
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