CHICAGO (AP) _ McDonald’s Corp. (MCD) on Tuesday reported third-quarter profit of $1.61 billion.
On a per-share basis, the Chicago-based company said it had net income of $2.11.
The results fell short of Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2.20 per share.
The world’s biggest hamburger chain posted revenue of $5.43 billion in the period, which also did not meet Street forecasts. Ten analysts surveyed by Zacks expected $5.48 billion.
McDonald’s shares have risen 18% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. The stock has risen 25% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCD at https://www.zacks.com/ap/MCD
The Associated Press