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McDonald's 3Q profit jumps 11 percent
posted 9:03 am Wed October 22, 2008
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OAK BROOK, Ill. - McDonald's says its third-quarter profit jumped 11 percent, beating Wall Street estimates on another quarter of strong sales both overseas and in the U.S.
Fast-food sales have been holding up well despite the economic downturn.
The Oak Brook, Ill.-based McDonald's Corp. said Wednesday it earned $1.19 billion, or $1.05 per share, in the three months ended Sept. 30. That's up from $1.07 billion, or 89 cents per share, a year ago.
Thomson Reuters says analysts expected 98 cents per share.
The company says revenue grew 6 percent to $6.27 billion.
Global same-store sales jumped 7.1 percent while U.S. same-store sales rose 4.7 percent. Same-store sales represent sales at locations open at least a year.
Thomson Reuters says analysts expected 98 cents per share.
The company says revenue grew 6 percent to $6.27 billion.Global same-store sales jumped 7.1 percent while U.S. same-store sales rose 4.7 percent. Same-store sales represent sales at locations open at least a year.
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