Fast food superpower McDonald's Corporation (MCD) on Thursday posted a third quarter profit that rose 6% from last year and beat analyst expectations.
The Oak Brook, Illinois-based company reported third quarter net income of $1.26 billion, or $1.15 per share, up from $1.19 billion, or $1.05 per share, in the year-ago period.
Revenue fell 3.5% from last year to $6.05 billion, however, hurt by negative currency effects. Excluding currency fluctuations, McDonald's said revenue would have risen by 2%.
On average, Wall Street analysts expected a lower profit of $1.11 per share, albeit on slightly higher revenue of almost $6.1 billion.
McDonald's shares rose $1.86, or +3.2%, in morning trading Thursday.
The Bottom Line
We have been recommending shares of MCD since Aug.12, when the stock was trading at $56.02. The company has a 3.77% dividend yield, based on last night's closing stock price of $58.33.
McDonald's Corporation (MCD) is a "recommended" dividend stock, holding a Dividend.com DARS Rating of 3.5 out of 5 stars.
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