McDonald's higher earnings linked to value menu

by Meat&Poultry staff
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OAK BROOK, ILL. — The success of the McDonald’s value menu helped boost income 11% for the company during the first quarter of 2010.

For the quarter ended March 31, the company had income of $1,089.8 million, equal to $1 per share on the common stock, which compared with $979.5 million, or 87c per share, during the same quarter of the previous year. Total revenue for the quarter was $5,610.1 million, up 10% from $5,077.4 million during the same quarter of the previous year.

“McDonald’s compelling menu, unmatched convenience and unbeatable value generated another strong quarterly performance,” said Jim Skinner, chief executive officer. “For the first quarter, we delivered comparable sales and guest count growth in each geographic segment along with global double-digit operating income growth. As we move forward, we will continue to pursue opportunities to extend our relevance, sustain our momentum and create ongoing excitement for our customers.”

During the quarter global comparable sales increased 4.2% with the United States up 1.5%, Europe up 5.2% and Asia/Pacific, Middle East and Africa up 5.7%.

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