Burger King Has It Their Way in Q2
Burger King tops expectations, posting a 13% earnings increase in its second fiscal quarter.
NEW YORK (
) --
Burger King
(BKC)
beat Wall Street's second-quarter expectations, as shoppers took advantage of the fast-food chain's value menu.
During the quarter, Burger King earned $50.2 million, or 37 cents a share, a 13% increase from $44.3 million, or 33 cents, in the year-ago period. Analysts expected the company to earn 34 cents a share.
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Revenue inched up 2% to $654.4 million, boosted by 95 new restaurants.
On the downside, same-store sales slipped 2%, as unemployment continued to drag down sales at stores. Burger King saw a 3.3% decline in comparable sales in the United States and Canada.
-- Reported by Jeanine Poggi in New York.
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