The world’s largest restaurant chain put a positive spin on some weak numbers
McDonald’s Corp. posted quarterly profits that came in below investor expectations Tuesday, though the fast food chain in its announcement highlighted that its revenues outperformed last year.
McDonald’s earned $1.21 per share on revenue of $6.7 billion in the first quarter of 2014, well below Wall Street expectations of $1.24 profit per share and $6.73 billion in revenue. Comparable sales fell by 1.7% during the first three months of the year, and operating income declined 3%.
Sales in McDonald’s outlets around the world open for at least 13 months increased by half a percent over the quarter but same-store sales in the U.S. dropped more than analysts anticipated. McDonalds blamed “challenging industry dynamics and severe winter weather” for the decrease in sales.