Burger King 2Q profit rises 19 percent
Miami • Burger King Worldwide Inc. (BKW) on Friday reported net income that climbed by 19 percent in its second quarter, and topped analysts' expectations.
The Miami-based company said profit increased to $75.1 million, or 21 cents per share, from $62.9 million, or 18 cents per share, in the same quarter a year earlier.
Earnings, adjusted for one-time gains and costs, came to 25 cents per share. The average per-share estimate of analysts surveyed by Zacks Investment Research was for profit of 23 cents.
The company said revenue declined 6.1 percent to $261.2 million from $278.3 million in the same quarter a year ago, and missed Wall Street forecasts. Analysts expected $263.3 million, according to Zacks.
Burger King shares have risen $3.52, or 15 percent, to $26.38 since the beginning of the year. The stock has increased $6.62, or 34 percent, in the last 12 months.
Keywords:Burger King,Earnings Report