BUSINESS

McDonald's Reports Sales Rise 4.5 Percent As Profit Beats Expectations

07/22/2011 09:45 am ET | Updated Sep 21, 2011

McDonald's Corp (MCD.N) reported quarterly profit that topped analysts' expectations on strength in the Europe and the United States, and shares rose more than 2 percent.

For the second quarter, sales at established restaurants were up 4.5 percent in the United States, up 5.9 percent in Europe and up 5.2 percent in its Asia/Pacific, Middle East and Africa unit.

The world's biggest hamburger chain on Friday said net income rose to $1.41 billion, or $1.35 per share, compared with $1.23 billion, or $1.13 a share, a year earlier.

Results from the latest quarter exceeded analysts' average profit view of $1.28 per share, according to Thomson Reuters I/B/E/S.

Revenue rose to $6.91 billion from $5.95 billion a year earlier.

McDonald's shares closed at $86.54 on the New York Stock Exchange and jumped to $88.50 in premarket trading.

(Reporting by Lisa Baertlein, editing by Gerald E. McCormick)

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