McDonald’s second quarter earnings up 15 percent, global sales up 4.8 percent

July 23rd, 2010 - 8:06 pm ICT by BNO News  

OAK BROOKS, ILLINOIS (BNO NEWS) — Fast food chain McDonald’s Corp. on Friday announced its global sales increased nearly five percent during the second quarter of 2010, pushing its earnings up fifteen percent.

The hamburger chain posted its best results in Europe, where sales increased 5.2 percent. In the United States, sales were up 3.7 percent.

Overall, McDonald’s reported total revenues of more than 5,94 billion, a five percent increase from last year’s $5,64 billion.

“McDonald’s second quarter reflects strong top-line and bottom-line results with each area of the world generating higher comparable sales, traffic and profits,” said Chief Executive Officer Jim Skinner. “This performance demonstrates the popular appeal of McDonald’s relevant menu choices. We’re delivering great tasting food to our 60 million customers around the world every day with the outstanding value and unmatched convenience they expect from McDonald’s.”

Among other highlights during the second quarter, McDonald’s consolidated operating income increased ten percent while diluted earnings per share were $1.13, representing a 15 percent increase.

The company also returned $1.6 billion to shareholders through share repurchases and dividends.

“What makes McDonald’s unique is the distinctive experience we’re creating for our customers through menu innovation, restaurant reimaging and operations excellence,” Skinner added. “I am pleased with our second quarter performance and confident in our ability to continue to deliver solid results. As we begin the third quarter, our momentum continues with July global comparable sales trending in-line with or better than second quarter sales.”

McDonald’s shares closed at $71.40 on Thursday, but dropped 0.86 (1.2 percent) in premarket trading on Friday, despite the strong results which were better than expected.

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