Profits Up by 15% at McDonald''s


Oct 21, 2006

(NYSE:MCD) McDonald''s Corporation announced a 15 percent rise in third-quarter profit on Thursday, meeting a better-than-expected forecast provided last week, as the hamburger chain benefited from strong U.S. sales and better than expected results in Europe. The world's largest restaurant company saw net income rise to $843.3 million, or 68 cents per share, compared with $735.4 million, or 58 cents per share, a year ago. McDonald's forecast earnings of 68 cents a share last week; including a penny per share for impairment and other charges. At the time, Wall Street analysts, on average, had been expecting earnings of 63 cents per share, according to Reuters Estimates. During the quarter, McDonald's results were helped by a new snack-sized chicken wrap in the United States and improved demand in Germany, France and Great Britain.