(Reuters) -Restaurant Brands International Inc beat estimates for quarterly revenue on Tuesday, as the Popeyes and Burger King parent enjoyed a rebound in demand at its restaurant chains after COVID-19 curbs were eased in Canada and the United States.
Consumers are increasingly venturing out to diners, encouraged by higher rate of vaccinations, after the nearly two-year long health crisis prompted restaurant closures and dine-in restrictions that kept people away from their favorite fast-food chains.
Demand for breakfast items has also rebounded as more people resume working from their offices and grab their sandwiches and coffees on their way to work, benefiting coffeehouse chains such as Tim Hortons and Starbucks Corp.
Comparable sales at Burger King in the United States rose nearly 2%, compared with estimates of a marginal decline.
Total revenue rose to $1.55 billion in the fourth quarter ended Dec. 31, from $1.36 billion a year earlier. Analysts on average were expecting revenue of $1.52 billion, according to IBES data from Refinitiv.
Net income attributable to common shareholders nearly doubled to $179 million, or 57 cents per share, from $91 million, or 30 cents per share a year earlier.
(Reporting by Deborah Sophia in Bengaluru; Editing by Krishna Chandra Eluri)
