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McDonald's profit rises nearly 4 percent

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[April 22, 2009]  OAK BROOK (AP) -- McDonald's says its first-quarter profit climbed nearly 4 percent as more customers came to the Golden Arches for a cheap meal.

McDonald's Corp. said Wednesday profit rose to $979.5 million, or 87 cents per share, from $946.1 million, or 81 cents per share, last year.

Analysts expected profit of 82 cents per share on revenue of $5.19 billion.

The home of the Big Mac has seen sales rise as more consumers shop for a deal. New fried chicken menu items and espresso-based drinks have also brought in customers.

But the nation's No. 1 hamburger chain warned earlier this year that its sales would be hurt by foreign currency rates. It says sales fell 10 percent to $5.08 billion from $5.61 billion. Same-store sales worldwide rose 4.3 percent.

[Associated Press]

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.




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