NEW YORK (TheStreet) -- The muted reaction on Thursday to fourth-quarter earnings from McDonald's (MCD) seemed to indicate a non-starter. But Wall Street's analysis on Friday rings a different tone: hang in there, investor, there's still more in store for the Big M.
Before Thursday's market open, the world's largest restaurant chain reported higher fourth-quarter and full-year revenue, but falling comparable-store sales across the U.S. and in Asia/Pacific, Middle East and Africa (APMEA) threw a red flag. On its home turf, comparable-store sales dropped 1.4%, a steeper fall than the 0.2% fall anticipated by Consensus Metrix, while APMEA saw a 2.4% decrease over the quarter.
"As we begin 2014, global comparable sales for the month of January are expected to be relatively flat," warned CEO Don Thompson in a statement.
For the fourth quarter, the chain reported net income of $1.40 a share, beating the consensus estimate among analysts polled by Thomson Reuters by a penny, and coming in 1% higher than the year-earlier quarter. Fourth-quarter revenue was up2% year-over-year to $7.09 billion, but missed consensus by $22 million.For all of 2013, the Oak Brook, Ill.-based business recorded net income of $5.55 a share, in line with expectations, and revenue of $28.11 billion, $18 million lower than the consensus estimate. In response, shares closed 0.46% higher to $95.32 with investors neither bullish nor bearish on the company's results. MCD data by YCharts
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