Arcos Dorados Q2 Net Profit Declines
(RTTNews) - Arcos Dorados Holdings, Inc. (ARCO), a restaurant chain and McDonald's franchisee, reported Wednesday that net income attributable to the company for the second quarter declined to $26.63 million or $0.13 per share from $28.37 million or $0.13 per share in the prior-year quarter.
On average, three analysts expected the company to report earnings of $0.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 6.8 percent to $1.11 billion from $1.04 billion in the same quarter last year. However, it surged 49.0 percent in constant currency. Systemwide comparable sales grew 40.8 percent. Analysts' expected revenues of $1.06 billion for the quarter.
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