McDonald's Q1 Net Income Declines; Global Comps. Down 1.0%

(RTTNews) - McDonald's reported first quarter net income of $1.87 billion compared to $1.93 billion, last year. Earnings per share was $2.60, a decrease of 2%, or 1% in constant currencies. Excluding the current year charges of $0.07 per share, earnings per share was $2.67, a decrease of 1%, or an increase of 1% in constant currencies, when also excluding prior year charges. Analysts on average expected the company to report profit per share of $2.67, for the quarter. Analysts' estimates typically exclude special items.

Revenue for the period fell 3.5% to $5.96 billion from $6.17 billion last year. Global comparable sales decreased 1.0%, impacted by the comparison to Leap Day in the prior year. Eexcluding Leap Day in the prior year, global comparable sales were essentially flat.

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