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McDonald's Profit Rises, Falls Short of Estimates

McDonald's (MCD) on Friday reported first-quarter profit that rose but fell short of market expectations, undermined by weaker international sales and U.S. consumers that appeared to dine out less.

The fast-food giant reported first-quarter earnings excluding items of $1.26 per share, up from $1.23 a share in the year-earlier period.

Revenue increased to $6.6 billion from $6.55 billion a year ago. U.S. comparable sales fell by 1.2 percent, while falling by 1.1 percent in Europe. In both regions, McDonald's cited economic uncertainty.

Analysts had expected the company to report earnings excluding items of $1.27 a share on $6.59 billion in revenue, according to a consensus estimate from Thomson Reuters.

"While the company's results for the quarter reflected difficult prior year comparisons and the ongoing impact of global economic headwinds, we continue our efforts to build market share and deliver sustained profitable growth for all stakeholders," said McDonald's President and CEO Don Thompson, in a statement.

In pre-market trading, the company's stock fell by more than one percent to $100.30.

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