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Burger King parent Restaurant Brands tops quarterly revenue estimates -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: A Popeyes restaurant, New York City, New York City advertises a $16.99 box of chicken and a sandwich. This was May 26th, 2021. Picture taken May 26, 2021. REUTERS/Hilary Russ

(Reuters] – Restaurant Brands International Inc beat expectations for quarterly revenue Tuesday. The Popeyes parent and Burger King enjoyed a recovery in customer demand after COVID-19 curbs in Canada were removed.

After the two-year-long health crisis that prompted closures of restaurants and restrictions on dine-in, consumers are more inclined to go out for food.

As more people return to their office, they are grabbing their breakfast sandwiches and coffees as they commute. This has helped coffeehouse chains like Tim Hortons. Starbucks Corp (NASDAQ:).

The comparable sales of Burger King USA increased by nearly 2% compared to estimates that there would be a slight decline.

From $1.36 million a year ago, the total revenue rose to $1.55 trillion in December 31, up from $1.36 miliarde a year prior. According to IBES data by Refinitiv, analysts expected revenue of $1.52 trillion on an average.

From $91 million or 30c per share one year prior, net income attributable by common shareholders has nearly doubled to $179million or 57c/share.

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