McDonald's churns out profit as it revamps menu, stores
This Tuesday, June 28, 2016, file photo shows a McDonald's sign at one of the company's restaurants in Miami. (Alan Diaz, File/AP Photo)
The Associated Press
Published Thursday, July 26, 2018 8:42AM EDT
OAK BROOK, Ill. -- McDonald's, trying to win back millions of customers through menu and store changes, is putting up some very strong profit numbers for the second quarter.
The burger chain on Thursday posted net income of $1.5 billion, or $1.90 per shares. Earnings, adjusted for restructuring costs, were $1.99 per share, or 7 cents better than Wall Street was expecting, according to a survey by Zacks Investment Research.
The world's biggest hamburger chain posted revenue of $5.35 billion in the period, also edging out forecasts.
Shares of McDonald's Corp. slipped less than 1 per cent before the opening.