Reuters: Global Markets: McDonald's quarterly profit rises four percent

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Marketing Mobile Apps This online course focuses on marketing efforts that will increase your app's exposure and establish a mobile app marketing plan. Enroll today for $99. From our sponsors

McDonald's quarterly profit rises four percent Oct 21st 2013, 12:16 Tweet Share this Email Print Reprints Related Topics Hot Stocks » Asian Markets » A McDonald's restaurant sign is seen at a McDonald's restaurant in Del Mar, California April 16, 2013. Credit: Reuters/Mike Blake Mon Oct 21, 2013 8:52am EDT (Reuters) - McDonald's Corp (MCD.N) reported quarterly revenue that missed analysts' estimates and warned that global comparable sales for October are expected to be relatively flat, sending its shares down 1.3 percent before the bell. Sales at stores opened for at least 12 months rose 0.9 percent in the third quarter, missing analysts' expectations of a 1 percent rise, according to Consensus Metrix. A recent survey from Goldman Sachs suggested that McDonald's, which lately has lagged rivals in introducing popular new menu items, might be losing favor with diners. In the United States, comparable sales increased 0.7 percent, but missed the average 0.9 percent rise analysts had expected. Comparable sales in its Asia/Pacific, Middle East and Africa business declined a steeper-than-expected 1.4 percent. The company is fighting to accelerate sales in the United States after smaller rivals such as Wendy's Co (WEN.O) and Burger King Worldwide Inc (BKW.N) rolled out new menu items and limited-time offers. McDonald's previously got a sales bump from new products such as oatmeal, sandwich wraps and lattes, but its more complicated menu has slowed service at the drive-thru. The world's biggest restaurant chain by revenue said net income rose to $1.52 billion, or $1.52 per share, for the third quarter ended September 30, from $1.46 billion, or $1.43 per share, a year earlier. Revenue rose 2.4 percent to $7.32 billion. Analysts on average had expected earnings of $1.51 per share on revenue of $7.34 billion, according to Thomson Reuters I/B/E/S. Restaurant margins at both franchised and company-operated stores slipped in the quarter. (Reporting by Aditi Shrivastava; Editing by Sriraj Kalluvila) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (1) The government should take them over, then things at McDs would run smoothly, just like Obamacare. Oct 21, 2013 8:58am EDT  --  Report as abuse See All Comments » Add Your Comment

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions