May 10 U.S. burger chain Wendy's Co
reported a 12 percent drop in quarterly profit on Wednesday,
hurt by higher labor costs and lower revenue due to fewer
Net income fell to $22.3 million from $25.4 million in the
first quarter ended April 2, the company said.
On a per share basis, the company's profit remained
unchanged at 9 cents per share due to fewer outstanding shares
from a year earlier.
Revenue fell to $285.8 million from $378.8 million a year
earlier, mainly because the company sold more restaurants to
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by