Updated from 8:52 a.m. ESTMcDonald's ( MCD) fourth-quarter profit more than doubled, boosted by continued sales growth and a gain from the sale of its stake in Chipotle Mexican Grill ( CMG). McDonald's said Wednesday that its fourth-quarter profit totaled $1.24 billion, or $1 a share, in line with its
The company plans to open 150 restaurants in Europe and 375 in Asia, primarily in Japan and China. Skinner said building drive-thrus is critical to the company's success in China. Earlier this month, McDonald's jointly-owned its first drive-thru restaurant and gas station complex with Sinopec, the Chinese petroleum company. Shares of McDonald's recently were trading down 59 cents, or 1.3%, to $44.26.