McDonald’s posted a strong profit in its second quarter and named a new chief of U.S. operations with sales at home under pressure as many Americans grow more cautious about spending.
The Chicago burger chain earned $2.36 billion, or $3.32 per share, for the three months ended June 30. A year earlier it earned $2.25 billion, or $3.14 per share.
Excluding one time charges and benefits, earnings were $3.38 per share, beating the $3.32 per share analysts polled by FactSet expected.
Revenue climbed to $7.1 billion from $6.84 billion in the prior-year period, but came a bit short of Wall Street’s estimate of $7.13 billion.
McDonald’s said same-store sales, or sales at locations open at least a year, edged up 0.8% in the U.S. Global same-store sales rose 1.3%.
McDonald’s warned in May that and over the U.S. conflict could dent its sales. The U.S. average for regular gasoline reached its most recent peak on May 21 at $4.56 per gallon, according to AAA.
McDonald’s announced Tuesday that Skye Anderson will be president of McDonald’s USA.
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