What factors influenced YUM's Q4 earnings beat?

YUM's Q4 earnings beat was influenced by several key factors:

1. **New Restaurant Growth**: The company's focus on expanding its restaurant footprint played a significant role in its performance. YUM opened approximately 4,500 gross new restaurants, or about one store every two hours, which is a testament to its perseverance in a challenging environment.
2. **Taco Bell's Performance**: Taco Bell saw a 4% increase in same-store sales during Q3, which is a positive indicator of customer demand and brand strength. This performance is particularly notable given the global pressures that YUM faces, suggesting that Taco Bell may be a relative bright spot for the company.
3. **International Unit Growth**: YUM's international unit growth, particularly at KFC, was a positive contributor. KFC reported a 9% year-over-year increase in international unit growth. This expansion into new markets and growth in existing international markets can help offset challenges faced in the domestic segment.
4. **System Sales Growth**: The company's system sales grew by 1%, primarily driven by a 5% increase in unit growth. This growth in system sales reflects the success of YUM's strategy to focus on expanding its restaurant network, which in turn boosts sales and revenue.

Overall, YUM's Q4 earnings beat can be attributed to its strategic focus on new restaurant openings, strong performance at Taco Bell, and growth in international markets, despite the broader global pressures the company faces.