Sign in to comment!



McDonald's 2nd-quarter profit drops 0.7 percent, misses estimate

McDonald's Corp. (MCD) on Tuesday reported earnings that declined by 0.7 percent in its second quarter, and missed analysts' expectations.

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.