First-quarter net income increased 11%, to $1.09 billion, or $1.00 per share. The earnings figure included a $0.05-per-share currency benefit. Revenue jumped 10%, to $5.61 billion, but adjusted for currency effects, revenue grew 4%.
Global same-store sales (aka comps) increased a healthy 4.2%. International growth offset some sluggishness at home; European comps increased 5.2% and Asia/Pacific, Middle East, and Africa increased 5.7%. U.S. comps increased only 1.5%.
Despite formidable competition from well-established quick-servers Yum! Brands
Meanwhile, McDonald's is giving Starbucks
Shareholders should have no beef with McDonald's. The stock has performed well -- up more than 31% over the last year -- and its actual business performance has also been admirable, unlike many retail and restaurant stocks that seem to have bubbled higher on investor hopes and little else. Cheesecake Factory's
With a forward P/E of 16, McDonald's still looks like a good deal for investors, too. What do you think? Use the comments boxes below to chime in.
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