McDonald's Revenue Climbs 8%

The company met its recent second-quarter earnings guidance.
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(MCD) - Get Report

met its recent second-quarter earnings guidance and said revenue rose 8% thanks to positive global comparable sales and the continued strength of its U.S. business.

For the quarter ended June 30, the company said revenue was up 5% in constant currencies, and global same-store sales rose 2.8%. Overall, the top line rose to $5.1 billion from $4.7 billion.

The ubiquitous fast-food seller earned $530.4 million, or 42 cents a share, in the quarter, including 9 cents of incremental tax expense resulting from the decision to repatriate about $3.2 billion in foreign earnings.

In the year-ago quarter, McDonald's earned $590.7 million, or 47 cents a share.

Last week, the hamburger chain said it expected to earn 42 cents a share in the quarter, including the tax expense of 9 cents a share and a pretax expense of 2 cents a share related to stock options.

Before that forecast, analysts surveyed by Thomson First Call were looking for earnings of 48 cents a share, meaning McDonald's would beat estimates if the items were excluded.