Yum China stock drops 9% after KFC operator sees ‘softening’ demand

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Yum China stock drops 9% after KFC operator sees ‘softening’ demand
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Claudia Assis is a San Francisco-based reporter for MarketWatch. Follow her on Twitter @ClaudiaAssisMW.

Yum China Holdings Inc.

shares fell more than 5% in the extended session Tuesday after the owner of Pizza Hut, KFC and other fast-food brands in China missed Wall Street expectations for its third quarter, saying that “softening consumer demand” emerged in recent weeks. Yum China earned $244 million, or 58 cents a share, compared with $206 million, or 49 cents a share, in the year-ago period. Adjusted for one-time items, Yum China earned 59 cents a share. Revenue rose 9% to $2.91 billion, from $2.68 billion a year ago.

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