Yum's 3Q results

Driven by growth in its international businesses, Yum Brands Inc.'s third-quarter net income rose to $270 million, or 50 cents per share, from $230 million, or 42 cents per share, a year earlier.

Revenue for the quarter increased to $2.56 billion from $2.28 billion.

Yum operates Dallas-based Pizza Hut Inc., KFC and Taco Bell. Yum, in an earnings release Monday, said it is continuing to add new Pizza Hut and KFC restaurants throughout the world, primarily through franchise development.

Worldwide, same-store sales grew 4 percent during the third quarter, including 11 percent growth in mainland China, 7 percent growth in the Yum Restaurants International Division, and 1 percent growth in the U.S.

For the first nine months of 2007, net income rose to $678 million, or $1.24 per share, from $592 million, or $1.05 per share, a year ago.

Revenue for the period rose to $7.2 billion from $6.5 billion.

Louisville, Ky.-based Yum (NYSE: YUM) has raised its full-year earnings growth forecast to 13 percent from 12 percent, based on growth in the China and YRI divisions, according to a news release. The new full-year earnings forecast is $1.65 per share.

Also, the company's board of directors has authorized the repurchase of an additional $1.25 billion in common stock. The current buyback program, which was authorized in March, has about $25 million remaining of the $500 million that was approved for repurchase, the release said.