NEW YORK CITY: US fast-food giant McDonald’s notched a 3.7pc increase in second-quarter profits yesterday, but offered a cautious outlook on the rest of 2013 given the uncertain economic environment.
McDonald’s reported $1.40bn in profits on $7.08bn in revenues, up from last year’s income of $1.35 bn on revenues of $6.92bn. Analysts had forecast revenues of $7.09bn.
The results translated into earnings of $1.38 per share, two cents shy of the $1.40 analyst estimate. McDonald’s chief executive Don Thompson said “the informal eating-out market remains challenging and economic uncertainty is pressuring consumer spending.”
McDonald’s shares tumbled 2.3 percent in pre-market trading.
AFP
