Updated from 8:45 a.m. EST
exceeded analysts' profit expectations for the most recent fourth quarter, but revenue for the period was on the light side.
Shares were down 0.7% to $57.61 Monday. Total revenue for the quarter declined 3% to $5.57 billion, but excluding the effects of currency exchange rates, the top line would have been up 5%. Sales at company-owned restaurants fell 6% to $3.86 billion. Global comparable sales increased 7.2%.
Net income decreased to $985.3 million, or 87 cents a share, from $1.27 billion, and $1.06 a share, a year earlier. Last year's quarter included gains of 33 cents a share.
On average, analysts surveyed by Thomson Reuters were looking for earnings of 83 cents a share and revenue of $5.70 billion.
For the year, total revenue was up 3% to $23.52 billion. Looking at 2009, McDonald's said it plans to invest $2.1 billion of capital to open about 1,000 new restaurants and upgrade existing locations.
McDonald's wasn't the only company in the
Dow Jones Industrial Average
reporting its results at the start of the week.
said its fourth-quarter revenue dropped 4% to $12.4 billion, but that news was secondary to word that it has reached an agreement to buy
said its fourth-quarter earnings slid 32% year over year. The company also predicted lower sales and earnings for this year, and its shares were falling 8%.
This article was written by a staff member of TheStreet.com.