McDonald's same-store sales disappoint
McDonald's Corp reported weaker-than expected sales at established restaurants for its second quarter and the month of June, and its shares fell 1.5 percent.
Overall same-store sales rose 4.8 percent for June and the second quarter. Analysts were expecting increases of 5 percent for the quarter and 5.3 percent for June.
The world's biggest hamburger chain said global same-store sales for July were trending in line or better than the second quarter.
Second-quarter net income rose to $1.23 billion, or $1.13 per share, from $1.09 billion, or 98 cents per share, a year earlier.
Analysts on average called for a profit of $1.12 per share, according to Thomson Reuters I/B/E/S.
Revenue, which includes sales from company-owned restaurants plus royalties from franchisees and other fees, rose 5 percent to $5.95 billion.
McDonald's shares were down 1.5 percent, at $70.35 in premarket trading.
(Reporting by Martinne Geller, editing by Gerald E. McCormick and Lisa Von Ahn)
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