McDonald’s profit misses the mark

 

McDonald'sMcDonald’s Corp has reported earnings that declined by 0.7 per cent in its second quarter, and missed analysts’ expectations.

The Illinois-based company on Tuesday reported profit of $US1.39 billion ($A1.5 billion), or $US1.40 per share, compared with $US1.4 billion, or $US1.38 per share, in the same quarter a year ago.

The average per-share estimate of analysts surveyed by Zacks Investment Research was for earnings of $US1.43.

The company said revenue rose 1.4 per cent to $US7.18 billion from $US7.08 billion in the same quarter a year earlier, but missed Wall Street forecasts.

Analysts expected $US7.29 billion, according to Zacks.

McDonald’s shares have increased 52 US cents, or 0.5 per cent, to $US97.55 since the beginning of the year, while the Standard & Poor’s 500 index has climbed 6.8 per cent.

However, the stock has dropped 3 US cents in the past 12 months.

AP

You have 7 articles remaining. Unlock 15 free articles a month, it’s free.