McDonald's Corporation (NYSE: MCD), the world's largest restaurant chain, reported a 4.5 percent drop in second-quarter profit hurt by a stronger dollar and weaker global demand.
Shares of McDonald's Corporation (NYSE: MCD) fell 2 percent to $89.76 in Monday's premarket trading.
The Oak Brook, Ill.-based fast-food company said Monday earnings for the second-quarter declined to $1.35 billion, or $1.32 a share, from $1.41 billion, or $1.35, in the year-earlier period. Analysts polled by Reuters were looking for $1.37 a share.
The impact of unfavorable currency exchange rates knocked 7 cents a share from earnings in the latest quarter, McDonald's said.
Revenue was little changed at $6.92 billion, compared with $6.91 billion.
In a Monday statement, Chief Executive Don Thompson said the results reflected the slowing global economy, persistent economic headwinds and its investments in its operations.
As we begin the third quarter, global comparable sales for July are expected to be positive, but less than second quarter, Thompson added.