NEW YORK (TheStreet) - McDonald's (MCD) shares were slipping in pre-market trading after the fast-food chain posted meager growth rates for the third quarter and indicated that it expects those trends "to persist" in the final quarter of the year.
The Oak Brook, Ill.-based company reported third-quarter net income of $1.52 billion, or $1.52 a share, a 5% year-over-year increase. Revenue rose 2% to $7.32 billion. McDonald's global comparable sales rose 0.9%.
Analysts, according to Thomson Reuters, expected the fast-food chain to post earnings of $1.51 a share on revenue of $7.34 billion.
Shares were falling 1.7% to $93.52 in pre-market trading.
U.S. comparable sales rose a meager 0.7% in the quarter, while operating income rose 5%, the company said. U.S sales were propped by McDonald's popular Monopoly promotion.
Last month, McDonald's kicked off new "Mighty Wings" menu items, featuring bone-in wings sold in 3, 5 and 10 pieces, with prices starting at $2.99. The promotion will go through the end of November.
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