The parent of Taco Bell, Pizza Hut and KFC fast-food restaurants had net income of $314 million, or $1.10 a share, up from $300 million, or $1.05 a share, in the year-earlier period. Adjusted per-share earnings were $1.15, below the $1.20 FactSet consensus.

The pullback in consumer spending at restaurants is hitting KFC and Pizza Hut. Yum Brands, the parent company of the chains, reported a 3% quarterly decline in global same-store sales, becoming the la

Yum! Brands reported weaker-than-expected earnings and revenue as demand fell at its Pizza Hut and KFC locations.

Yum Brands' quarterly earnings and revenue missed Wall Street's estimates. KFC and Pizza Hut reported same-store sales declines, while Taco Bell's same-store sales rose just 1%. Yum said its digital sales accounted for more than 50% of sales for the first time.