Yum China Posting Strong Gain On Better Than Expected Q3 Earnings

(RTTNews) - Shares of Yum China Holdings, Inc. (YUMC) have pulled back off their best levels of the day but continue to see significant strength in afternoon trading on Wednesday. After reaching its best intraday level in well over a month, Yum China is currently up by 14.2 percent.

The strong gain by Yum China comes after fast food restaurant operator reported third quarter adjusted earnings of $0.51 per share compared to analyst estimates for $0.45 per share, although the company's revenues for the quarter came in slightly below expectations.

Yum China also raised its dividend to $0.12 per share from $0.10 per share and increased its stock repurchasing authorization to $1.4 billion.