The Wendy's Single Pretzel Bacon Cheeseburger.
Jane Wells | CNBC
Hamburger chain Wendy's reported a 20 percent drop in quarterly revenue as it sold more company-owned stores to franchisees.
The company reported net income of $22.8 million, or 6 cents per share, in the third quarter ended Sept. 28, compared with a loss of $1.9 million, or breakeven on a per-share basis, in the same quarter a year earlier.
Excluding items, the company earned 8 cents per share.
Revenue fell to $512.5 million from $640.8 million.