Yum China wary of weak consumption even as results beat estimates

Stock jumps but 'top-line pressure' to continue for mainland operator of KFC, Pizza Hut

Yum China runs over 11,000 KFCs on the mainland, including this one in Shanghai. Despite better-than-expected results and jumping stock prices, it does not see an overall recovery in consumer sentiment. (Photo by Wataru Suzuki)

KENJI KAWASE, Nikkei Asia chief business news correspondent

November 5, 2024 14:35 JST

HONG KONG -- Yum China Holdings' Hong Kong-listed shares surged on Tuesday, after the mainland operator of KFC and other fast-food chains posted better-than-expected quarterly results.

The company's management, however, remains cautious about the state of Chinese consumption, with signs of a true macroeconomic recovery still elusive.