Burger King owner’s fourth-quarter sales outpace expectations
BNN Bloomberg
Restaurant Brands International Inc. reported sales and profit that surpassed analyst estimates, defying a pullback in spending that has hurt rivals’ results.
Restaurant Brands International Inc. reported sales and profit that surpassed analyst estimates, defying a pullback in spending that has hurt rivals’ results.
The owner of the Burger King and Tim Hortons chains said revenue was US$1.82 billion in the fourth quarter, exceeding the average estimate of analysts surveyed by Bloomberg. Earnings per share of 75 cents were higher than the 73-cent expectation.
Same-store sales, a gauge of how restaurants open for longer than a year are performing, rose 5.8 per cent, beating the 5.7 per cent average estimate of six analysts polled by Bloomberg. Digital sales jumped 20 per cent from a year ago and now makes up over a third of system-wide sales, the company said Tuesday.