McDonald's Quarterly Earnings Fall Short Of Expectations
Originally published at www.seclive.com
Filing in Focus: McDonald's 8-K, July 22, 2013
McDonald's Corporation (MCD) announced its second quarter financial results for fiscal year 2013, reporting second quarter net income of $1.4B, or $1.38 earnings per share, missing analyst projections of $1.40 earnings per share. Though the company's net income was up 4% from $1.35B this quarter last year, its performance lags behind its competitors at Burger King (BKW), Wendy's (WEN), and Jack (JACK) in the Box. Analysts explain that McDonald's has not created a new product that sends consumers to its restaurants in a frenzy, unlike Taco Bell's (YUM) success with the Doritos Locos Taco, which has been named its most successful product launch in its history. Wendy's recently launched the Pretzel Bacon Cheeseburger and Dunkin Donuts (DNKN) also is making strides in all-around breakfast service by offering its new Glazed Donut Breakfast Sandwich. Though it is still the giant with $7.1B in revenue, its same-store sales in Europe and Asia decreased slightly while its overall worldwide same-store sales increased by 1%.
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