McDonald’s Profit Trails Estimates as Sales Slump Persists
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McDonald’s Corp., the largest restaurant chain by sales, posted second-quarter profit that trailed analysts’ estimates after a U.S. sales slump lingered.
Net income fell less than 1 percent to $1.39 billion, or $1.40 a share, from $1.4 billion, or $1.38, a year earlier, the Oak Brook, Illinois-based company said today in a statement. The average of 24 analysts’ projections compiled by Bloomberg was $1.44 a share. Revenue rose 1.4 percent to $7.18 billion, trailing the estimate for $7.29 billion.