Warm winter, Chicken McBites keep McDonald's profit up

McDonald’s Corp., the world’s largest hamburger chain, keeps churning out a profit – this time due to unexpectedly balmy weather and new products such as oatmeal and Chicken McBites.
The company netted $1.27 billion in income, or $1.23 per share, in its first quarter. That’s a 5% increase from the $1.21 billion, or $1.15 per share, it earned during the same period in 2011.

Note the absence of one-time, game-changing accounting charges that have been seemingly omnipresent this earnings season.

McDonald's revenue jumped 7.1% to $6.5 billion.

Even though McDonald’s is feeling pressure from rising food costs, it so far has managed to maintain a strong sales pace by maintaining a loyal base for its core burgers and fries while also branching into more healthful or premium options such as frappes and garden salads.

Read Full Article from Los Angeles Times

- Posted: 2012-04-20 11:42:35

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