McDonald's swings to profit in Q2 on strong overseas sales - Update

said it posted a profit in its second quarter compared to a loss last year, when it recorded a charge of about $1.6 billion related to the sale of its certain Latin American and Caribbean businesses. Quarterly results were driven by global comparable sales growth of 6.1%, helped by its strong overseas sales. The Oak Brook, Illinois-based company reported second-quarter net profit of $1.19 billion or $1.04 per share, compared to a net loss of $711.7 million or $0.60 per share in the same quarter last year. On average, 15 analysts polled by First Call/Thomson Financial expected earnings of $0.86 per share. The latest quarter's results included a gain of 10 cents per share from the sale of its interest in Pret A Manger. Meanwhile, the company's year-ago results were weighed down by a $1.6 billion charge related to the sale of... [read full story]