McDonald's Q4 Profit Edges Down; Adj. EPS, Revenues Miss Market

McDonald's

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(RTTNews) - Fast food chain McDonald's Corp. (MCD) reported Monday slightly lower profit in its fourth quarter with nearly flat revenues. Adjusted earnings and revenues missed market estimates.

For the quarter, net income dropped 1 percent to $2.017 billion from last year's $2.039 billion. Earnings per share, however, remained at prior year's level of $2.80.

Adjusted earnings were $2.83, compared to prior year's $2.95.

The Wall Street analysts on average expected the company to report earnings of $2.86 per share. Analysts' estimates typically exclude special items.

Operating income, however, grew 2 percent from last year to $2.87 billion.

Revenues edged down to $6.388 billion from $6.406 billion a year ago. The analysts expected revenues of $6.48 billion.

Global comparable sales increased 0.4 percent. U.S. decreased 1.4 percent, while International Operated Markets segment increased 0.1 percent.

Systemwide sales increased 2 percent.

In pre-market activity on the NYSE, McDonald's shares were trading at $298.55, up 1.4 percent.

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