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McDonald's Q2 profit falls YOY

McDonald's Corp. said its second-quarter normalized net income came to $1.13 per share, compared with the S&P Capital IQ consensus estimate of $1.23 per share.

EPS declined 12.2% year over year from $1.29.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.09 billion, a decline of 15.4% from $1.28 billion in the prior-year period.

The normalized profit margin declined to 16.7% from 17.9% in the year-earlier period.

Total revenue fell 9.5% on an annual basis to $6.50 billion from $7.18 billion, and total operating expenses fell 8.5% on an annual basis to $4.60 billion from $5.03 billion.

Reported net income decreased 13.2% from the prior-year period to $1.21 billion, or $1.26 per share, from $1.39 billion, or $1.40 per share.