McDonald's tops 4Q profit forecasts

MCDONALD'S Corp. has reported fourth-quarter net income of $US1.1 billion ($A1.37 billion).

THE Oak Brook, Illinois-based company said it had profit of $US1.13 per share. Earnings, adjusted for non-recurring costs, were $US1.22 per share.

The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $US1.20 per share.The world's biggest hamburger chain posted revenue of $US6.57 billion in the period, missing Street forecasts. Analysts expected $US6.73 billion, according to Zacks.McDonald's shares have declined 3 per cent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has dropped 4 per cent in the last 12 months.

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