McDonald's Q2 Profit Soars, Results Top Estimates
(RTTNews) - Fast-food giant McDonald's Corp. (MCD) reported Wednesday that net income for the second quarter soared to $2.31 billion or $3.15 per share from $1.19 billion or $1.60 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $3.17 per share, compared to last year's $2.55 per share.
On average, 28 analysts polled by Thomson Reuters expected the company to report earnings of $2.52 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 14 percent to $6.50 billion from $5.72 billion in the same quarter last year, and it also was up 14 percent in constant currencies. Analysts expected revenues of $5.66 billion for the quarter.
Global comparable sales increased 11.7 percent, reflecting strong comparable sales across all segments.
Systemwide sales increased 12 percent or 13 percent in constant currencies. The company said digital systemwide sales in its top six markets were over $8 billion for the quarter, representing nearly 40 percent of systemwide sales.
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