My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

Burger King

Burger King's Profit Sizzles

2 min read

Burger King's new stores are bringing home the bacon (cheeseburger deluxe).

Burger King's profit climbed 19 percent in the second quarter, the company reported on Friday. The company posted earnings of $75.1 million, or 21 cents a share, up from $62.9 million, or 18 cents a share, in the same period a year ago.

Adjusted earnings were 25 cents a share, topping the 23 cents analysts were expecting.

“We ended the first half of the year strong as we grew comparable sales across all four regions and accelerated restaurant openings," said Burger King CEO Daniel Schwartz in a statement.

Related: Mrs. Fields and TCBY Are Rising From the Ashes, Hand in Hand

Revenues declined 6.1 percent to $261.2 million, which the company attributes to the refranchising of 360 company-owned stores in 2013. The results were in line with expectations.

While same-store sales increased 0.9 percent, up from 0.6 percent for the same period last year, much of Burger King's profit has been driven by opening new restaurants.

Having finished the chain's refranchising push, Burger King is hoping to turn a profit through driven expansion efforts, especially international expansion. While the chain closed 22 locations in the U.S. and Canada in the second quarter, it opened 153 new stores overseas. That brings Burger King to a total of 13,808 stores worldwide, up from 13,126 from last year.

Having nearly 14,000 restaurants is nothing to scoff at, but it gives Burger King plenty of room to grow before it catches up with McDonald's, which has 35,000 total locations, or Yum Brands, which boasts over 40,000 KFCs, Taco Bells and Pizza Huts worldwide. 

Related: Regulator Names McDonald's a 'Joint Employer'

More from Entrepreneur

Dustin's experience and expertise can help you monetize your message, build a marketing strategy and connect with influencers.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Starting, buying, or growing your small business shouldn’t be hard. Guidant Financial works to make financing easy for current and aspiring small business owners by providing custom funding solutions, financing education, and more.

Latest on Entrepreneur