McDonald's Small increase in Q3 global
For the third quarter ended 30 September, McDonald’s reported net income of $1.275 bn., or $1.50 per diluted share, compared to $1.309 bn., or $1.40 per diluted share, reported in the year-ago quarter. The net income for the nine months ended 30 September was $3.493 bn. compared to $3.323 bn. the same period the year prior, which is a 5% increase.
Total revenues for the quarter declined to $6.424 bn. from $6.615 bn. in September 2015.
Operating income in the US rose 8% on improved restaurant profitability and higher gains from refranchising. In the International segment, comparable sales increased 3.3% for the quarter, led by strong performance in the UK, Australia, Canada and Germany. Third quarter operating income for the segment increased 2% fueled by sales-driven improvements in franchised margin dollars across most markets, the company said.
McDonald’s saw negative comparable sales in China in the third quarter due in part to temporary protests related to events surrounding the South China Sea and in comparison to strong results the prior year. The segment’s operating income rose 8% due in part to improved restaurant profitability in China, which benefited from recent VAT reform.