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McDonald's First-Quarter Profit Rises on Value Menu Items
April 21, 2010
Oak Brook, Ill. (AP) - McDonald's first-quarter profit climbed above analysts' expectations as hungry diners looking to stretch their dollars chowed down on its value menu items.
The world's largest hamburger chain says sales rose across all its markets as more customers visited its restaurants.
McDonald's, based in Oak Brook, Ill., generally outperformed most competitors in the recession. But even its sales had come under pressure amid high unemployment.
McDonald's earned $1.09 billion, or $1 per share. That compares with earnings of $979.5 million, or 87 cents per share, in the same quarter last year.
Revenue rose 10 percent to $5.61 billion.
Analysts forecast a smaller profit of 96 cents per share on revenue of $5.52 billion.
The world's largest hamburger chain says sales rose across all its markets as more customers visited its restaurants.
McDonald's, based in Oak Brook, Ill., generally outperformed most competitors in the recession. But even its sales had come under pressure amid high unemployment.
McDonald's earned $1.09 billion, or $1 per share. That compares with earnings of $979.5 million, or 87 cents per share, in the same quarter last year.
Revenue rose 10 percent to $5.61 billion.
Analysts forecast a smaller profit of 96 cents per share on revenue of $5.52 billion.
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