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.