Even the always reliable MCD has fallen short
McDonald's 2nd-quarter net off 4.5%, revenue flat
NEW YORK (MarketWatch) - McDonald's Corp., (NYSE:MCD) the Oak Brook, Ill., fast-food major, reported second-quarter net income fell 4.5% on revenue little changed from a year earlier. Earnings declined to $1.35 billion, or $1.32 a share, from $1.41 billion, or $1.35, in the year-earlier period. Revenue was $6.92 billion compared with $6.91 billion. A survey of analysts by FactSet Research produced consensus estimates of $1.38 a share of profit on $6.94 billion of revenue. Currency translations knocked 7 cents a share off the latest earnings, McDonald's reported. In a Monday statement, Chief Executive Don Thompson said the results reflected "the slowing global economy, persistent economic headwinds" and its investments in its operations. Globally, comparable-store sales rose 3.7%; comp sales were positive in each geographic region, the firm said. McDonald's shares were off 2% in the premarket.
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