Reuters

(Reuters)

McDonald's 2Q Profit Soars on Global Sales

By Retail FOXBusiness

McDonalds (MCD) grilled up a stronger-than-expected 15% improvement in second-quarter profit on Friday, led by continued popularity in the U.S. of its growing line of breakfast offerings and expansion in China.

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The Oak Brook, Ill.-based fast-food chain booked net income of $1.41 billion, or $1.35 a share, compared with $1.23 billion, or $1.13 a share, in the same quarter last year. The results trumped the Streets view of $1.28 a share.

Revenue for the three months ended June 30 was $6.91 billion, up 16% from $5.95 billion a year ago, ahead of average analyst estimates polled by Thomson Reuters of $6.65 billion.

McDonald's ongoing momentum reflects our commitment to the customer, the companys chief executive Jim Skinner said in a statement, adding that its global results demonstrate the resilience of our Plan to Win and our ability to execute successfully.

Global sales for the world's biggest hamburger chain climbed 5.6%, with the U.S. and Europe up 4.5% and 5.9%, respectively, with revenue in emerging markets such as the Middle East and Asia up 5.2%.

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The U.S. results were fueled by the McCafe line-up, including its new Frozen Strawberry Lemonade, and traditional offerings such as Chicken McNuggets and the Big Mac. The restaurants fruit and maple oatmeal breakfast offerings also continued to perform well.

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France, the U.K., Russia and China performed particularly well during the quarter.

A day before reporting its earnings, the McDonalds board declared a quarterly cash dividend of 61 cents a share, payable on Sept. 16 to shareholders of record on Sept. 1.

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