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McDonald's net up nearly 30 percent
October 18, 2007
OAK BROOK, Ill. — Global comparable-store sales at McDonald's Corp. rose 5.9 percent in September and 6.9 percent in the third quarter ended Sept. 30, 2007, the company announced.
U.S. comparable-store sales grew 3.5 percent in September, while European comps were up 5.7 percent. Middle East and Africa comps were up 12 percent in September, and reached a 10-year record high of 11.4 percent for the quarter.
Revenues for the company were $5.9 billion in the third quarter, up 7 percent compared with revenues of $5.5 billion for the 2006 third quarter. Year-to-date, revenues were $17 billion, up 10 percent compared with revenues of $15.4 billon for the first nine months of last year.
Third-quarter net income for the company was $1.1 billion, up 30 percent compared with net income of $843.3 million for the third quarter of last year. Year-to-date, net income was $1.1 billion, down 52 percent compared with net income of $2.3 billion for the first nine months of 2006.
The year-to-date 2007 result includes a charge of $1.7 billion related to the company's sale of its operations in Latin America to a licensee.
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