(Toronto) Restaurant Brands International posted first-quarter profit of US$277 million, up from US$270 million in the same period last year, as its revenue also rose.

Parent company of coffeehouse chain Tim Hortons said earnings per share were 61 cents US for the quarter ended March 31, up from 59 cents US in the first quarter of last year. .

Revenues totaled US$1.59 billion, compared to sales of US$1.45 billion in the first three months of 2022.

On an adjusted basis, Restaurant Brands reported earnings of 75 cents per share in the most recent quarter, compared with adjusted earnings of 64 cents per share a year earlier.

Analysts on average had expected an adjusted profit of 64 cents per share, according to forecasts compiled by financial data firm Refinitiv.

Besides Tim Hortons, Restaurant Brands owns Burger King, Popeyes Louisiana Kitchen and Firehouse Subs.

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