McDonald's second-quarter profit fell, albeit only 1%, on difficulties attracting new customers, a problem the company says won't be resolved quickly. Indeed, the forecast is that full-year sales will be relatively similar to the disappointing performance seen in the first six months, especially as no major operational changes are expected, as CEO Don Thomspon said.
McDonald's reported profits of $1,39 billion between April and June, up from $1,4 billion last year. Earnings per share rose from $1,38 to $1,40, thanks to a reduction in the free float. Revenue rose 1% to $7,18 billion, as analysts expected earnings of $1,44 per share and sales of $7,29 billion. Sales fell 1,5% in the US and 1% in Europe, while they increased 1,1% in Asia/Pacific, the Middle East and Africa.
