Burger giant reports 4Q drop in income

- Last updated on GMT

Related tags: United states

US fast food giant, McDonald's Corp. said on Wednesday that its
fourth-quarter net income fell 7 per cent, slightly missing Wall
Street's expectations,...

US fast food giant, McDonald's Corp. said on Wednesday that its fourth-quarter net income fell 7 per cent, slightly missing Wall Street's expectations, as European sales were hampered by public concern over mad cow disease. Net income for the burger maker fell to $452 million, or 34 cents a share, from $486.2 million, or 35 cents a share, a year earlier. Systemwide sales, which include sales from restaurants owned by franchises and those owned by the company, rose to $9.92 billion from $9.75 billion a year ago. Sales to Europe, the company's second-largest market behind the U.S., fell 10 percent to $2.21 billion from $2.45 billion one year ago.

Related topics: Market Trends

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