Investing.com - Restaurant stocks were lower in midday trading on Thursday after disappointing financial results from Yum! Brands and Dunkin.
Yum! (NYSE:YUM) fell 0.7% after its fourth-quarter earnings missed analysts' expectations and revenue fell short of forecasts, as its $171 million reduction to its investment in delivery service Grubhub and a foreign currency loss of $14 million weighed on results.
The chain operator reported earnings per share of $0.40 on revenue of $1.56 billion. Investing.com's consensus forecast was for EPS of $0.95 on revenue of $1.59 billion.
Meanwhile, Dunkin Brands (NASDAQ:DNKN) slumped 5% after its revenue came in lower than expected. The company reported EPS of $0.68 versus $0.61 expected and $319.6 million revenue versus $329.53 million expected.
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