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McDonald's (MCD) Gets 'McHit' as Q3 Results Miss Mark, Q4 Comps Already Negative

October 19, 2012 8:49 AM EDT
McDonald's (NYSE: MCD) shares are lower Friday morning following third-quarter results and comps that missed the mark.

Sales in the quarter remained relatively flat at $7.15 billion, versus $7.17 billion in the same period last year. Net income slipped 3 percent to $1.46 billion, or $1.43 per share. Notably, EPS included negative impairment of 8 cents from foreign exchange translation.

Overall, the Street was expecting revs $7.15 billion and EPS at $1.48.

Global comparable-store sales rose 1.9 percent in the quarter, light compared with consensus expectations of a 2 percent gain.

Notably, CEO Don Thompson commented that McDonald's fourth-quarter comps were currently trending negative.

Shares are down nearly 3 percent in early trading.


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