McDonald's Q1 earnings, sales up
April 21, 2011
by Meat&Poultry Staff
OAK BROOK, Ill. — In the first quarter ended March 31, earnings at McDonald’s Corp. increased 11 percent due to increased customer visits, particularly in Europe. Net income totaled $1,209 million, equal to $1.15 per share on the common stock, up from $1,089.8 million, or $1 per share, in the same period one year ago.
Revenues also increased 9 percent to $6,111.6 million from $5,610.1 million. US revenue at company-owned and franchised restaurants open at least 13 months increased 2.9 percent, compared with 4.2 percent worldwide. Key contributors to McDonald’s US operations during the first quarter included featured products, such as the 20-piece Chicken McNuggets and the Chipotle BBQ Bacon Angus Burger.
“Our dedication to building the McDonald’s business by optimizing our menu, modernizing the restaurant experience and broadening accessibility continues to drive our global performance,” said Jim Skinner, CEO. “For the quarter, McDonald’s delivered double-digit earnings per share growth led by higher comparable sales and guest counts across all geographic segments and strong franchise margin performance.”