Huawei Technologies will immediately lose access to updates to the Android operating system, a source close the matter told Reuters.Technologyread more
Huawei claims it has developed its own operating system for smartphones and laptops for "extenuating circumstances."Technologyread more
Trump's threat, posted on Twitter, comes amid rising international tensions in the Middle East as the U.S. has dispatched a carrier strike group and bomber task force to the...Politicsread more
Prime Minister Narendra Modi and his Bharatiya Janata Party are set to form the new government again, exit polls from India's month-long parliamentary elections show. But past...Electionsread more
The latest crisis in the uneasy French-German relationship was accelerated by Trump's decision to stop Germany's comfortable and decades-old free-riding on trade and security...Europe Politicsread more
While some fans of the long-running "Game of Thrones" felt satisfied by the show's final bow, others were quick to express their displeasure with how events unfolded.Entertainmentread more
Stocks in Asia were mostly higher on Monday amid rising tensions between the U.S. and China.Asia Marketsread more
Current geopolitical tensions are making it harder and harder for oil-producing nations to make decisions that will help stabilize crude prices, Russian Energy Minister...Oilread more
Russian Energy Minister Alexander Novak said there were different options available for OPEC and its oil-producing allies in the second half of 2019, including a possible...Oilread more
The Australian Electoral Commission (AEC) on Monday said Morrison's coalition has won 76 seats in Australia's parliament, which is comprised of 151 elected lawmakers.Electionsread more
U.S. President Donald Trump said his tariffs on Chinese goods are causing companies to move production out of China to Vietnam and other countries in Asia, and added that any...World Politicsread more
results@ (Adds CEO and analyst comments, details from conference call, share movement)
May 8 (Reuters) - Wendy's Co on Wednesday reported quarterly revenue and profit above estimates, as the burger chain was helped by higher royalty fees from franchisees and its new premium burgers that come with avocado and bacon.
The company refreshed its offerings with the introduction of the 'Made to Crave' line of fresh beef burgers that include applewood smoked bacon, asiago cheese and Kansas City-style barbecue sauce to woo customers looking for better fast-food choices.
Wendy's also had three successful promotions during the quarter, which included a $5 giant Jr. bacon cheeseburger and a 'Biggie Bag' combo offer, which was $1 more than its previous '4 for $4' value deal.
The new menu items did well despite the cold weather and grew "incremental traffic," Chief Executive Officer Todd Penegor said on a call with analysts.
The company's new line-up follows heavy discounting and promotions offered by fast-food chains in the United States last year, as they battled to attract customers.
Gordon Haskett analyst Jeff Farmer said there was a "clear shift" toward slightly higher priced value meal structure offered by restaurants, which also help drive traffic and profits.
A majority of Wendy's restaurants, both domestic and international, are run by franchisees who pay royalty fees and rent for the restaurant space.
Revenue from these franchises, which had a 4 percent rise in royalties and about a 17 percent increase in rent, helped the overall revenue beat estimates.
Total revenue rose 7.4 percent to $408.6 million for the first quarter ended March 31, beating analysts' estimates of $399.8 million, while same-store sales in North America met expectations.
Profit margins at restaurants operated by the company rose 15 percent, compared with a 13.9 percent increase a year earlier, mainly driven by higher prices of its products.
"Wendy's appears to be stabilizing topline without significant additional margin trade off, low protein prices likely helped," Bernstein analyst Sara Senatore said.
Excluding certain one-time items, the company earned 14 cents per share, beating the consensus estimate of 11 cents per share, according to IBES data from Refinitiv.
Shares of the company were up 2 percent at $18.79. (Reporting by Nivedita Balu in Bengaluru Editing by Tomasz Janowski and James Emmanuel)