McDonald's Reports Q1 2014 Results, U.S. Comparable Sales Decrease 1.7 Percent

McDonald's Corp. announced results for the first quarter ended March 31, 2014, reflecting higher revenues compared with the prior year, while earnings per share for the quarter declined primarily due to the impact of prior year income tax benefits. First quarter results included global comparable sales increase of 0.5 percent reflecting higher average check, as well as negative guest traffic in the U.S. and Asia/Pacific, Middle East and Africa (APMEA). Consolidated revenue increase of 1 percent (3 percent in constant currencies), while consolidated operating income decrease of 1 percent (1 percent increase in constant currencies). Diluted earnings per share of $1.21, decrease of 4 percent (2 percent in constant currencies). Returned $1.2 billion to shareholders through dividends and share repurchases.

In the U.S., comparable sales decreased 1.7 percent in the first quarter, and operating income declined 3 percent. Top-line results for the quarter reflected negative comparable guest traffic amid challenging industry dynamics and severe winter weather. Looking ahead, the U.S. remains focused on improving the restaurant experience through a continued commitment to operations and service excellence, customer engagement and menu choice to drive sales and profitability, according to the release. Full report.

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