McDonald’s Corp (NYSE:MCD, XETRA:MDO) beat Wall Street’s profit expectations in the second quarter and named a new leader for its US business, capping a shakeup at the top of the company’s largest market.
The fast-food giant posted earnings per share of $3.32, matching estimates and up 6% year-over-year
Net income came in at $2.36 billion, a 5% increase from the prior year and in line with forecasts. Revenue rose 4% to $7.1 billion, in line with analyst estimates of $7.13 billion. Global comparable sales rose 1.3%, just below the 1.4% growth analysts had expected and down from 3.8% growth in the first quarter, according to Bloomberg consensus data.
In the US, comparable sales grew for a fifth consecutive quarter, rising 0.8%, slightly below the 0.9% growth forecast and well under the 2.5% gain posted in the same period last year. Sales growth in the company’s international operated and licensed market segments was roughly in line with expectations. Operating income totaled $3.3 billion, up 3% from a year ago but slightly below the $3.39 billion analysts had expected.