First-quarter net income increased 3.5% to $979.5 million, or $0.87 per share, beating analysts' expectations. Revenue dropped 9.5%, to $5.08 billion, although excluding currency conversion, it would have risen 2%. (McDonald's actually missed analysts' expectations for $5.19 billion in revenue.)
Proving its continued popularity with consumers, McDonald's was able to boast impressive quarterly comparable-store sales, which increased by 4.3% overall; in the U.S., comps increased a solid 4.7%, in its Asia/Pacific, Middle East, and Africa segment, comps surged 5.5%, and Europe was the laggard, increasing 3.2%.
You could also argue that McDonald's was up against some pretty tough comparisons on a year-over-year basis; check out how McDonald's quarter looked last year this time. Still, like discounter Wal-Mart Stores
The search for deals hasn't uniformly made life easier for other discounters, though. For example, fast-food rival Burger King
The Golden Arches trade at about 14 times trailing earnings, which is a slight premium to Burger King (which changes hands at 13 times earnings), yet cheaper than Yum! Brands
Over the past several years, McDonald's has proven that it's a winner in good times and bad, which is impressive for any company. Furthermore, its continued ability to bring consumers through the doors in droves says it's still a great company and a strong candidate for long-term portfolios.
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