NEW YORK: McDonald’s reported higher second-quarter profits Thursday on increased comparable sales in the US and other key markets.
Net income came in at $1.5 billion, up 7.3 percent from the year-ago level.
Revenues declined 11.5 percent to $5.4 billion, the result of having sold some company-owned restaurants to franchisees.
“We’re seeing good performance across our business as our customers tell us that they value and appreciate the moves we’re making to elevate the McDonald’s experience,” said chief executive Steve Easterbrook.
Since becoming chief executive in 2015, Easterbrook has focused on simplifying McDonald’s offering and improving service at its US restaurants.
Comparable sales in the US rose 2.6 percent from the year-ago level, part of a global increase of four percent.
Other countries with strong growth included Britain, France and Italy, but said its performance was weak in South Korea.
Shares dipped 0.4 percent to $158.31 in pre-market trading.—AFP