Burger King 1Q earnings soar
A car stops at the drive-thru at a Burger King restaurant near downtown Los Angeles on Thursday. Burger King earned $35.8 million, or 10 cents per share, in the quarter that ended March 31. (April 25, 2013) Credit: AP
Burger King says its first-quarter earnings more than doubled even though revenue fell, as the fast-food chain trimmed several restaurant-related expenses.
The Miami-based company had warned earlier this month that sales at established restaurants were expected to fall during the quarter, and they wound up declining 1.4 percent. That includes a 3 percent drop in the United States and Canada.
Burger King earned $35.8 million, or 10 cents per share, in the quarter that ended March 31. That's up from $14.3 million, or 4 cents per share, the previous year.
The company previously said adjusted earnings totaled 17 cents per share.
Revenue fell about 42 percent to $327.7 million. Analysts expected $305.8 million.
Sarra Sounds Off Ep. 35: EI baseball, girls lacrosse and plays of the week On the latest episode of "Sarra Sounds Off," we look at East Islip baseball's inspirational comeback story, Jared Valluzzi has the plays of the week and Tess Ferguson breaks down the top defensive players in girls lacrosse.
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