OAK BROOK, Ill. – McDonald's Corp. (MCD) on Tuesday reported earnings that declined by 0.7 percent in its second quarter, and missed analysts' expectations.
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The Oak Brook, Illinois-based company reported profit of $1.39 billion, or $1.40 per share, compared with $1.4 billion, or $1.38 per share, in the same quarter a year ago. The average per-share estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.43.
The company said revenue rose 1.4 percent to $7.18 billion from $7.08 billion in the same quarter a year earlier, but missed Wall Street forecasts. Analysts expected $7.29 billion, according to Zacks.
McDonald's shares have increased 52 cents, or 0.5 percent, to $97.55 since the beginning of the year, while the Standard & Poor's 500 index has climbed 6.8 percent. However, the stock has dropped 3 cents, or 0 percent, in the last 12 months.