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UPDATE 1-Restaurant Brands profit beats estimates as Burger King shines
October 26, 2017 / 10:57 AM / 2 months ago

UPDATE 1-Restaurant Brands profit beats estimates as Burger King shines

(Adds comparable sales details, background)

Oct 26 (Reuters) - Canada’s Restaurant Brands International Inc on Thursday reported a quarterly profit that blew past estimates, helped by continued demand at its Burger King chain.

Comparable sales at Burger King, which is known for its Whopper burgers and onion rings, rose 3.6 percent in the third quarter ended Sept. 30.

Analysts on average had expected a rise of 2.6 percent, according to research firm Consensus Metrix.

Restaurant Brands, which bought Popeyes Louisiana Kitchen in February, said total revenue rose 12.4 percent to $1.21 billion, with sales rising across its businesses.

Net profit attributable to shareholders rose 6 percent to $91.4 million, or 37 cents per share.

Excluding items, the company earned 58 cents per share, beating analysts’ estimates by 9 cents, according to Thomson Reuters I/B/E/S. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Maju Samuel)

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