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McDonald's tops Street 1Q forecasts

OAK BROOK, Ill. (AP) _ McDonald’s Corp. (MCD) on Friday reported first-quarter net income of $1.1 billion.

The Oak Brook, Illinois-based company said it had profit of $1.23 per share.

The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.16 per share.

The world’s biggest hamburger chain posted revenue of $5.9 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $5.87 billion.

McDonald’s shares have climbed 6.5 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 2 per cent. The stock has climbed 33 per cent in the last 12 months.

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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

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Keywords: McDonald’s, Earnings Report, Priority Earnings