McDonald's earnings, sales climb in Q1
April 21, 2011
by Eric Schroeder
OAK BROOK, ILL. — Earnings at McDonald’s Corp. rose 11% during the first quarter as customer visits increased, especially in Europe. Net income in the quarter ended March 31 was $1,209 million, equal to $1.15 per share on the common stock, up from $1,089.8 million, or $1 per share, in the same period a year ago.
Revenues in the first quarter also increased, rising 9% to $6,111.6 million from $5,610.1 million.
U.S. revenue at company-owned and franchised restaurants open at least 13 months rose 2.9%, compared with 4.2% worldwide.
“Our dedication to building the McDonald’s business by optimizing our menu, modernizing the restaurant experience and broadening accessibility continues to drive our global performance,” said Jim Skinner, chief executive officer. “For the quarter, McDonald’s delivered double-digit earnings per share growth led by higher comparable sales and guest counts across all geographic segments and strong franchise margin performance. Despite the challenges of the current economic environment, I am confident that McDonald’s can continue to grow by listening to our customers and remaining true to our proven Plan to Win strategy.”
Key contributors to McDonald’s U.S. operations during the first quarter were beverages, including the McCafe line-up, the new Fruit & Maple Oatmeal and featured products such as the 20-piece Chicken McNuggets and the Chipotle BBQ Bacon Angus Burger.