McDonald's profit edges up after focus on value

McDonald's profit edges up after chain focuses on value menu items

Associated Press

NEW YORK (AP) -- McDonald's Corp. says its profit edged up in the fourth quarter, after the world's biggest hamburger chain moved to bolster slumping sales by focusing on value.

But the company warned that a key sales figure is expected to fall this month.

The Oak Brook, Ill.-based company says it earned $1.4 billion, or $1.38 per share, for the period ended Dec. 31. That compares with $1.38 billion, or $1.33 per share, a year ago.

Revenue rose to $6.95 billion, up from $6.82 billion.

The results topped expectations for profit of $1.33 per share on revenue of $6.9 billion.

Globally, however, sales at restaurants open at least a year rose just 0.1 percent for the period. That's an important measurement of a restaurant chain's performance.

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