McDonald’s falls short, warns of tough year
NEW YORK — McDonald’s Corp. reported a second-quarter profit that fell shy of expectations and warned of a tough year ahead.
The world’s biggest hamburger chain also said July sales are expected to be flat.
The company, based in Oak Brook, Illinois, says global sales edged up 1 percent at restaurants open at least a year in the quarter. The figure rose by the same amount in the U.S., where the company has been introducing new menu items such as chicken wraps and egg-white breakfast sandwiches
For the quarter, the company earned $1.4 billion, or $1.38 per share. That’s up from $1.35 billion, or $1.32 per share, a year ago.
Earnings were short of the $1.40 analysts expected.
Revenue rose to $7.08 billion, in line with expectations.
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94