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Home>>Business
McDonald’s posts loss in second quarter
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10:48, July 25, 2007
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McDonald’s Corporation, the world ’s biggest fast-food chain, said
Tuesday it lost 711.7 million dollars in the second quarter.
For the quarter, the loss was 60 cents per share, compared to 834.1
million dollars earnings or 67 cents per share, in the same period last
year.
“McDonald’s results reflect the financial impact of the previously
announced developmental license transaction in Latin America,” said
McDonald’s Chief Executive Officer Jim Skinner.
In April, McDonald’s announced a plan to sale 1,600 restaurants in 18
Latin American and Caribbean countries in an effort to strengthen profit.
Earnings per share, excluding exceptional items, were 71 cents, in line
with the company’s guidance.
Revenue climbed 12 percent to 6 billion dollars, from 5.36 billion
dollars a year earlier.
Source: Xinhua
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