McDonald's Corp. said its normalized net income for the first quarter came to 92 cents per share, compared with the S&P Capital IQ consensus estimate of $1.06 per share.
EPS fell 16.6% year over year from $1.10.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $889.6 million, a decline of 19.1% from $1.10 billion in the prior-year period.
The normalized profit margin declined to 14.9% from 16.4% in the year-earlier period.
Total revenue fell 11.1% year over year to $5.96 billion from $6.70 billion, and total operating expenses declined 9.7% on an annual basis to $4.34 billion from $4.80 billion.
Reported net income fell 32.7% year over year to $811.0 million, or 84 cents per share, from $1.21 billion, or $1.21 per share.
