Chains

Restaurant Brands Beats Second Quarter Profit Forecasts

OAKVILLE, Ontario (AP) _ Restaurant Brands International (QSR) on Wednesday reported second-quarter net income of $89.5 million.

The Oakville, Ontario-based company said it had net income of 37 cents per share. Earnings, adjusted for non-recurring costs, were 51 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.

The operator of Burger King and Tim Hortons restaurant chains posted revenue of $1.13 billion in the period.

Restaurant Brands shares have increased 24 percent since the beginning of the year. The stock has climbed 32 percent in the last 12 months.

 

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