Tags: McDonalds Profit Rises as March Sales Jump

McDonald's Profit Rises as March Sales Jump

Thursday, 21 Apr 2011 08:51 AM

McDonald's Corp. reported a higher-than-expected quarterly profit Thursday as the world's largest restaurant company posted March sales in all regions that topped analyst expectations.

Total revenue during the quarter that ended March 31, rose 9 percent to $6.1 billion, with sales in Europe leading the way.

March sales at restaurants open at least 13 months were up 3 percent in the United States, up 4.9 percent percent in Europe and gained 0.5 percent in McDonald's Asia/Pacific, Middle East and Africa unit. Globally they rose 3.6 percent.

Analysts, on average, were looking for same-restaurant sales to rise almost 2 percent in the United States, more than 3 percent in Europe and 2 percent in APMEA.

The United States contributes just over one-third of McDonald's overall revenue, compared with 40 percent for Europe — its largest market for sales and one where it has more middle-class appeal.

McDonald's has been on a great run — outperforming most other U.S. restaurant chains and stealing market share from smaller rivals amid a slow U.S. economic recovery.

First-quarter net income rose 10.9 percent to $1.21 billion, or $1.15 per share, from $1.09 billion, or $1 per share, a year earlier. That beat Wall Street expectations of a profit of $1.14 per share, according to Thomson Reuters I/B/E/S.

Its shares slid 0.3 percent in premarket trading.

© 2017 Thomson/Reuters. All rights reserved.

   
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McDonald's Corp. reported a higher-than-expected quarterly profit Thursday as the world's largest restaurant company posted March sales in all regions that topped analyst expectations. Total revenue during the quarter that ended March 31, rose 9 percent to $6.1 billion,...
McDonalds Profit Rises as March Sales Jump
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2011-51-21
Thursday, 21 Apr 2011 08:51 AM
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