McDonald’s Q3 profit rises 5.9%

Oakbrook, Ill. McDonald's Corp. on Thursday reported a 5.9% rise in profit, helped in part by increases in same-store sales across all its global markets. The company’s profit rose to $1.26 billion, up from $1.19 billion a year earlier.

Revenue decreased 4% to $6.05 billion on currency changes while same-store sales rose 3.8% globally. Global comparable sales increased 3.8% with the United States up 2.5%, Europe up 5.8% and Asia/Pacific, Middle East and Africa up 2.2%.

"McDonald's global results demonstrate the resilience of our strategies and our ability to execute successfully,” said McDonald's CEO Jim Skinner in the earnings report.

For the quarter, the United States generated solid comparable sales and drove an operating income increase of 6%. The chain said ongoing appeal of its core menu items, along with favorable consumer response to the new premium Angus Third Pounders and McCafe espresso-based coffees, fueled the U.S. results.

“For October, despite a declining informal eating out market around the world, we expect consolidated comparable sales to remain positive," Skinner said.

Login or Register to post a comment.