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| McDonald’s Profit Slips |
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| Monday, 23 July 2012 12:50 |
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McDonald’s Corp. reports net income slipped four per cent in the second quarter, due to unfavourable foreign currency exchange rates and increasingly budget-conscious diners. Citing a sluggish global economy, company revenue didn’t meet expectations. The rising cost of ingredients, partly due to a U.S. drought, has also caused concern. According to reports, the global company says it earned US$1.35 billion, or $1.32 per share, for the period ending June 30. That compares with $1.4 billion, or $1.35 per share, one year ago. Total revenue for the quarter was $6.92 billion, up from $6.91 billion one year ago. According to AP, CEO Don Thompson is hopeful a distinct menu and renovations across the chain will attract more customers. Keep Reading McDonald’s Enlists Help to Test Happy Meals McDonald’s Announces Sales, Growth and New Beverage Options Burger Wars: Premium Patties Steal Spotlight |
NEW YORK — McDonald’s recently recorded a four-per-cent dip in net income.
