OAK BROOK, Ill. (AP) _ McDonald’s Corp. (MCD) on Tuesday reported second-quarter net income of $1.09 billion.
The Oak Brook, Illinois-based company said it had profit of $1.25 per share. Earnings, adjusted for non-recurring costs, came to $1.45 per share.
The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.38 per share.
The world’s biggest hamburger chain posted revenue of $6.27 billion in the period, missing Street forecasts. Eight analysts surveyed by Zacks expected $6.28 billion.
McDonald’s shares have increased almost 8 per cent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6 per cent. The stock has increased 31 per cent 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 http://www.zacks.com/ap/MCD
Keywords: McDonald’s, Earnings Report, Priority Earnings