Yum China Holdings Inc. said its normalized net income for the fourth quarter was 20 cents per share, compared with the S&P Capital IQ consensus estimate of 11 cents per share.

EPS rose 128.7% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $76.1 million, a gain of 138.8% from $31.9 million in the year-earlier period.

The normalized profit margin rose to 3.8% from 1.6% in the year-earlier period.

Total revenue fell on an annual basis to $1.98 billion from $2.05 billion, and total operating expenses fell 6.1% year over year to $1.88 billion from $2.00 billion.

Reported net income came to $87.4 million, or 23 cents per share, compared with a loss of $29.1 million, or a loss of 8 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled $1.24 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.19.

EPS rose from 97 cents in the prior year.

Normalized net income was $456.8 million, an increase from $351.3 million in the prior year.

Full-year total revenue fell from the prior-year period to $6.75 billion from $6.91 billion, and total operating expenses decreased on an annual basis to $6.03 billion from $6.38 billion.

The company said reported net income increased year over year to $502.0 million, or $1.36 per share, in the full year, from $323.7 million, or 89 cents per share.