Yum! Brands Inc. (YUM) shares soared 5.45% in pre-market trading on Thursday, following the company's better-than-expected fourth-quarter results and the announcement of its new AI-driven technology platform, Byte by Yum!.

The fast-food giant reported an adjusted earnings per share (EPS) of $1.61 for the fourth quarter, beating analysts' estimates of $1.60. Revenue came in at $2.36 billion, surpassing expectations of $2.355 billion. The strong performance was primarily driven by the success of Taco Bell, with its value offerings resonating well with budget-conscious U.S. consumers, leading to a 5% increase in same-store sales for the quarter.

Additionally, Yum! Brands unveiled its new AI-driven technology platform, Byte by Yum!, which is expected to streamline operations and enhance customer experiences across its restaurant brands, including KFC, Taco Bell, Pizza Hut, and The Habit Burger Grill. The comprehensive platform comprises online and mobile app ordering, point of sale, kitchen and delivery optimization, menu management, inventory and labor management, and team member tools.

Yum! Brands' CEO, David Gibbs, highlighted the company's resilience and agility, stating, "2024 again demonstrates the resilience of our business model and the agility of our world-class teams. Our twin growth engines remain strong with Taco Bell U.S. delivering same-store sales growth of 5% in the fourth quarter, meaningfully outpacing the industry, and KFC International delivering its second consecutive year with over 2,000 net new units."

Investors have responded positively to Yum! Brands' strong quarterly results and its strategic move towards AI-driven technology solutions, which are expected to drive operational efficiencies and enhance customer experiences, positioning the company for continued growth in the highly competitive fast-food industry.