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McDonald's quarterly profit falls 30%

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McDonald's Corp reported a 30% fall in quarterly profit, hurt by a food scandal in China and intense competition in the United States.

The company's net income fell to $1.07 billion, or $1.09 per share, in the third quarter ended Sept. 30 from $1.52 billion, or $1.52 per share, a year earlier. Total revenue at the world's largest restaurant chain fell
4.6 % to $6.99 billion. Global sales at restaurants open at least 13 months were down 3.3%.

Analysts on average had expected global same-restaurant sales to fall by 3%, according to research firm Consensus Metrix.

 

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