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McProfits Up but US Performance Disappoints

News, 26 July 2002


McDonald’s ended a five-quarter streak of declining earnings in the three months ending June 30, with a 13% jump in net income to $497.5 million (€497.1m; £315.6m) on a 2% increase in sales to $10.4 billion.

The fast food giant’s bottom line was boosted by a healthy European performance and cost-cutting initiatives.

In the US, however, overall revenue growth masked a 1.6% drop in same-store sales, compared with a 2.7% rise in Europe.

Executives said the group is preparing new marketing, advertising and product initiatives to address the US decline.

Data sourced from: AdAge.com; additional content by WARC staff