McDonald's third quarter earnings up, revenues down
October 23, 2009
by Bryan Salvage
OAK BROOK, ILL. — For the third quarter ended Sept. 30, McDonald's Corporation net income was up 6%, compared to the third quarter last year, to $1.261 billion. Earnings per share was $1.15, a 10% increase over the same quarter last year; consolidated operating income increased 6% over the third quarter of 2008; but revenues slipped 4% to $6.047 billion from $6.267 billion in the third quarter of 2008.
The continuing appeal of McDonald's core menu along with favorable consumer response to the new premium Angus Third Pounders and McCafe espresso-based coffees fueled the U.S. results, said Jim Skinner, McDonald's chief executive officer.
"We begin the fourth quarter from a position of strength, and I am confident that our focus on the customer and commitment to financial discipline will continue to deliver long-term profitable growth for our System and our shareholders," he added. "For October, despite a declining informal eating-out market around the world, we expect consolidated comparable sales to remain positive."