McDonald's net income rises 15% on strong sales
McDonald's Corp. says its net income rose 15% in the second quarter to $1.4 billion on rising sales around the world.business Updated: Jul 22, 2011 20:28 IST
McDonald's Corp. says its net income rose 15% in the second quarter to $1.4 billion on rising sales around the world.
The world's largest burger chain reported net income of $1.4 billion, or $1.35 per share, up from $1.2 billion, or $1.13 per share in last year's second quarter. Revenue rose 16% to $6.9 billion.
Results topped analyst expectations for earnings of $1.28 per share on revenue of $6.6 billion.
CEO Jim Skinner credited McDonald's affordability as well as changes the chain has undertaken. McDonald's has performed better than many fast-food competitors, partly because it has introduced healthier food, fancy coffee drinks and wireless access in remodeled restaurants.
Revenue at stores open at least 13 months was strongest in Europe, where it rose 5.9%.