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McDonald’s Profit Drops 30% as U.S. Sales Slump

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McDonald’s Corp., the world’s largest restaurant chain, said third-quarter profit fell 30 percent as U.S. sales slumped for the fourth straight quarter.

Net income dropped to $1.07 billion, or $1.09 a share, from $1.52 billion, or $1.52, a year earlier, the Oak Brook, Illinois-based company said in a statement today.