McDonald's Takes Good News to Go

Company's strong results can't offset cost of Latin American sale
By Wesley Oliver,  Newser Staff
Posted Jul 24, 2007 2:12 PM CDT

Despite strong global sales, McDonald’s reported a second-quarter loss today, which it attributed to its sale of Latin American franchises. The company lost $711.7 million, or 60 cents a share, but said its new offerings and value menu drew consumers, CNNMoney reports. Excluding the Latin American charge, earnings were 71 cents per share, beating expectations.

Revenue jumped 12% to $6 billion, blunting the impact of the company's second quarterly loss ever. SEC filings cited the breakfast menu, Snack Wrap, and premium roast coffee as robust performers. US same-store sales, a key industry indicator of strength, rose 7%. Despite the loss, one analyst said, “We are as bullish as ever.” (More McDonald's stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.