McDonald's swings to 2Q profit
AP , Oak Brook: Jul 23 2008
Made Popular Jul 23 2008

McDonald’s says it swung to a profit in its second quarter, helped by a gain from selling its interest in a gourmet sandwich chain and strong sales of breakfast items, chicken sandwiches and beverages.

The nation’s No. 1 hamburger chain says it earned $1.19 billion, or $1.04 per share, compared with a loss of $711.7 million, or 60 cents per share last year. The Oak Brook, Ill.-based company says revenue rose 4 percent to $6.08 billion from $5.84 billion.

The results include a gain of 10 cents per share from the sale of its interest in Pret A Manger. A year ago, the results were weighed down by charges from selling its Latin America and Caribbean businesses.

Thomson Financial says analysts expected earnings of 86 cents per share on revenue of $5.92 billion.

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