McDonald's sales beat estimates as turnaround gathers pace

McDonald's sales beat estimates as turnaround gathers pace

McDonald's on Friday reported third-quarter sales that beat analysts' estimates amid concern that the boost from all-day breakfast was fading.

The world's largest fast-food chain reported net income of $1.28 billion, or $1.50 per share, compared with $1.31 billion, or $1.40 per share, a year earlier. In the first quarter, McDonald's US same-store sales rose 5.4%. Operating income in the United States rose 8% reflecting improved restaurant profitability and higher gains from refranchising.

But sales at McDonald's all-important USA business continued to slow amid people choosing to eat at home due to falling grocery store prices and stepped up promotions by other fast-food concepts.

The Accountant movie review: an awkward and amusing financial thriller
Affleck plays Christian Wolff, an accountant who is tracked by a high level security guy in the United States government. But as Christian un-cooks the books and gets closer to the truth, the body count starts to rise.

Fifth Third (FITB) Stock Gains Ahead of Q3 Earnings
Fifth Third Bancorp got Downgrade on 10-Oct-16 where investment firm Nomura Downgrade the stock from Neutral to Reduce. Wells Fargo & Co. reissued a "hold" rating on shares of Fifth Third Bancorp in a research note on Saturday, July 9th.

China to Support Anti-Drug Campaign Launched by the Philippines
However, Duterte has reportedly said that he will not discuss the Scarborough Shoal issue during the trip. He also said he was willing to cut ties with the U.S. in favor of Russian Federation and China.

Revenue was $6.42 billion in the period ended September 30, the Oak Brook, Illinois-based company said in a statement on Friday. However, earnings per share rose to $1.50 from $1.40 in the year-ago period on lower weighted average shares outstanding in the latest quarter.

Comparable sales are considered a key indicator of a restaurant's performance, since they measure only the yearly change in sales for locations open at least 12 months. The segment's operating income rose 8% (10% in constant currencies) driven by improved restaurant profitability in China, which benefited from recent Value-Added Tax reform.

Looking ahead, we are focused on growing global comparable sales and serving more customers while being mindful of the near-term challenges in several markets. Analysts had projected $1.48 in per-share earnings. This supplemental information is provided to help investors understand the impact of the current and prior year charges on the Company's results.