McDonald's profit edges up after focus on value
NEW YORK McDonald's Corp. (MCD) says its profit edged up in the fourth quarter, after the world's biggest hamburger chain moved to bolster slumping sales by focusing on value.
But the company warned that a key sales figure is expected to fall this month.
The Oak Brook, Ill.-based company says it earned $1.4 billion, or $1.38 per share, for the period ended Dec. 31. That compares with $1.38 billion, or $1.33 per share, a year ago.
Revenue rose to $6.95 billion, up from $6.82 billion.
The results topped expectations for profit of $1.33 per share on revenue of $6.9 billion.
Globally, however, sales at restaurants open at least a year rose just 0.1 percent for the period. That's an important measurement of a restaurant chain's performance.
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