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Sara Senatore from Bernstein asks for an update on the margins in China. CFO David Gibbs replied that $YUM had one point of margin improvement in China in 2Q16. He added that food and paper outperformed the inflation that was seen in labor and it had a price benefit, a mix benefit, deflation, VAT and a couple of other line items.
$TWTR mentions Snap as one of its fiercest rivals in its 10K filing. Great head start for Snap ahead of IPO!