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| Free Hospitality Publications |
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Restaurant Industry News
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Tuesday October 24th, 2006 |
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McDonald's profit up 15 pct, meets view
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McDonald's Corp. (NYSE:MCD) on Thursday reported a 15 percent rise in third-quarter profit, meeting a better-than-expected forecast provided last week, as the hamburger chain benefited from strong U.S. sales and improvements in Europe. |
The world's largest restaurant company said net income rose to $843.3 million, or 68 cents per share, compared with $735.4 million, or 58 cents per share, a year ago.
Last week, McDonald's forecast earnings of 68 cents a share, including a penny per share for impairment and other charges. At the time, Wall Street analysts, on average, had been expecting earnings of 63 cents per share, according to Reuters Estimates.
During the quarter, McDonald's results were helped by a new snack-sized chicken wrap in the United States and improved demand in Germany, France and Great Britain.
External Source - For the complete article click here
Source - Reuters
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