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McDonald's Q3 profit falls YOY

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McDonald's Q3 profit falls YOY

McDonald's Corp. said its third-quarter normalized net income amounted to $1.24 per share, compared with the S&P Capital IQ consensus estimate of $1.28 per share.

In the prior-year period, the per-share result came in at a profit of $1.23.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.15 billion, a decrease from $1.21 billion in the prior-year period.

The normalized profit margin rose to 17.5% from 17.3% in the year-earlier period.

Total revenue fell 5.3% on an annual basis to $6.62 billion from $6.99 billion, and total operating expenses decreased 5.6% from the prior-year period to $4.61 billion from $4.88 billion.

Reported net income grew 22.0% from the prior-year period to $1.31 billion, or $1.40 per share, from $1.07 billion, or $1.09 per share.