McDonald's 4Q profit rises to $1.22B

By IBTimes Staff Reporter | January 22 2010 8:16 AM

McDonald's Corp reported higher quarterly profit on Friday as strength in international markets offset its weakening U.S. business, which is grappling with high unemployment and rampant discounting.

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The world's biggest hamburger chain said fourth-quarter profit was $1.22 billion, or $1.11 a share, up from $985.3 million, or 87 cents a share, a year earlier.

Excluding one-time items, McDonald's earned $1.03 a share. On that basis, analysts' average forecast was $1.02, according to Thomson Reuters I/B/E/S.

Revenue, which includes sales from company-owned restaurants plus fees like royalties from franchisees, rose 7 percent to $5.97 billion.

Shares edged up 0.3 percent to $63.39 in premarket trading.

(Reporting by Brad Dorfman and Lisa Baertlein; editing by John Wallace)

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