Stronger dollar hurts McDonald's 3Q results
McDonald's, the world's largest hamburger chain, has thrived in boom and bust times by selling cheap eats and constantly updating its menu. (Sept. 19, 2012) Credit: Jack Maggio
McDonald's says third-quarter net income fell nearly 4 percent as the stronger dollar hurt international results.
The world's largest hamburger chain has thrived in boom and bust times by selling cheap eats and constantly updating its menu. But global economic pressures and intensifying competition is wearing at the company, which makes two-thirds of its sales overseas. Shares fell 2 percent in premarket trading.
McDonald's says net income fell to $1.46 billion, or $1.43 per share. That compares with net income of $1.51 billion, or $1.45 per share last year. Analysts expected net income of $1.47 per share. The stronger dollar hurt net income by 8 cents per share.
Revenue was nearly flat at $7.15 billion from $7.17 billion last year. Analysts expected revenue of $7.17 billion.
'His sacrifice made a difference': Gold Star mother honors son's memory Army Pfc. Raheen Tyson Heighter, 22, of Bay Shore, was the first serviceman from Long Island killed in the Iraq War.
'His sacrifice made a difference': Gold Star mother honors son's memory Army Pfc. Raheen Tyson Heighter, 22, of Bay Shore, was the first serviceman from Long Island killed in the Iraq War.
