McDonald`s Corp reported a higher quarterly profit on Friday as strength in international markets offset its weak U.S. business, which is grappling with high unemployment and rampant discounting, informs Reuters.
"McDonald`s 2009 results reflect the broad-based strength of our global business," said McDonald`s Chief Executive Officer, Jim Skinner. "Our in-demand food and beverages, unparalleled convenience and superior value at every level of our menu enabled us to serve 60 million customers per day during 2009, up 2 million per day over the prior year. In addition, McDonald`s profitability increased as we marked our sixth consecutive year of positive comparable sales in every geographic segment and generated higher global revenues, operating income and earnings per share in constant currencies - all tremendous accomplishments given the tough global economy."
Revenue, which includes sales from company-owned restaurants plus royalties from franchisees and other fees, rose 7 percent to $5.97 billion, topping analysts` forecast of $5.94 billion.
Throughout 2009, McDonald`s U.S. sales outpaced the overall quick-service restaurant industry and drove market share increases. In the fourth quarter, U.S. operating income rose as consumers enjoyed core menu favorites, everyday value offerings and new premium products, including McCafe espresso-based coffees and the Angus Third Pounder, and commodity costs eased.
McDonald`s Europe delivered strong comparable sales for the fourth quarter against robust prior year results. The U.K., France and Russia led the segment`s operating income growth for the quarter. Emphasis on fourth-tier menu development, premium product innovation, daypart expansion and restaurant reimaging continued to provide an appealing restaurant experience and drive market share gains.
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