McDonald's Gets Q2 Break, Beats Views By 8 Cents (Investor's Business Daily)

Wednesday July 23, 7:02 pm ET McDonald's (NYSE:MCD - News ) served up strong second-quarter numbers Wednesday, easing some concerns that it will be hurt by the slowdown in U.S. consumer spending that's piercing the restaurant industry. Still, shares of the fast-food giant slipped 0.8% to 59.66 on worries over softer-than-expected margins and rising beef costs. McDonald's earned 94 cents a share for the quarter, excluding special items. That was up 44% from a year earlier and beat analysts' consensus view by 8 cents. Sales rose 4% to $6.08 billion. In a statement, CEO Jim Skinner said the company's performance "demonstrates that McDonald's is a trusted and familiar brand offering value, convenience and choice worldwide." He added that McDonald's was operating from a position of strength, with double-digit operating income... [read full story]